PDLI Bull - short term

PDLI             has clearly broken out of its triangle formation, confirming the pattern. Using the measure rule we can predict a best case price target of just over four dollars. PDLI             has already made half of that movement upward, so the risk-reward today is much less enticing than it was immediately after its breakout. It also broke out rather close to the apex of the triangle. which may suggest a weaker performance. Though, for those who are willing to take the risk (particularly considering the indecision shown in the last two candles and the low volume ), there may well be some profit left on this breakout.

Full disclose, I wont be trading this pattern. This is one I watched but declined to enter due to its weak volume on the breakout. Strong volume is a must for me to enter a trade, though many others ignore or put less emphasis on volume and I may come round to that way of thinking because of the large number of trades like this which have me sitting on my hands.

Were it not for the low volume requirement I would be sitting at a nice little profit. Still, I very much think that if you have a system you should stick with it even when it means watching from the sidelines and, for now, I avoid trades unless volume is strong on the price movement.
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