ASX:MYX   MAYNE PHARMA GROUP LIMITED
-Potential right shoulder forming on a 26 week pattern thus far
-2018-01-15 with gravestone doji on weekly however makes potential boundary break on completion of pattern on the daily a little dicey
-Volume profile consistent with H&S validity thus far
-Never the less, worthy of consideration

-40 Basis point risk planned
Comment: Forming ascending triangle on H4 chart, will by on break near the closing bell risking 30 Basis points in anticipation of completion of larger H&S formation
Comment:
Comment: Buy stop entry 0.690
30 Basis point risk
Comment: Short term horizontal consolidation?
Trade active: Order filled, Long at 30 basis point risk
Comment: Breakout of main pattern on high volume. Tricky to gain additional, risk/reward conscience exposure with the wide bodied bar but nevertheless, trade idea validated.
Comment: I am of the opinion that Fridays move was an 'out of line move'. Being that the 'smart money' has not yet finished its accumulation phase before the rapid markup in price. Though the volume was consistent with a true break, nonetheless, we are back within the confines of the pattern which I view to still be technically strong.
However, I could always be wrong

Comment: SL moved to 0.685
Could be faced with a test of the boundary this week, Will look to add a further 50 basis points risk should we see a breakout
Stop buy order in place
Comment:
Good close today, just shy of my buy order to put out my full line. I am a bit anxious of sudden rapid mark ups as I have seen in ASX equities such as ACX, MTR and SRX in the past in which I missed the train.
A good problem to have nonetheless as I have some of my position on.
Comment: Order filled. Additional 50 basis points
Comment: Was stopped out of secondary tranche yesterday. Remaining lot stop at 0.735
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