Qantas, ready for take off

-No clear primary pattern but a retest of 6.50 handle which happens to coincide with the ATH before the GFC crash 2007
-Small 4 week ascending triangle 'launching pattern' (without this, I wouldn't even consider this trade)
-Strong uptrend
-Bollinger bands squeezing on the daily

30 basis points planned
Buy on a break and daily close above 6.58 with an increase in volume
Trend follow model for trade management

Comment:

Today looks promising with a gap up over long weekend. Waiting to see where the day closes, if it is accompanied by volume and a favorable trade risk.
Stand by

Comment:

Putting in buy stop order @ 6.58

Comment:

Order filled
SL @ 6.39

Comment:

Share buyback cancelled after hours... this doesnt look good

Trade closed manually:

Wigged out, Closed position out at market open.
-0.5R