Wesfarmers continuation of huge horizontal zone breakout

-66 Month Horizontal range primary pattern
-Measured move up to 57.31
-8 Day pennant with horizontal boundary completion on friday close
-50SMA peeling away from 200SMA

30 basis points
Will enter only with limit order to retain a favorable R/R
Comment: Limit buy order @ 50.55
SL @ 49.60
TP @ 57.25
Comment: Filled @ 50.20 on the open
Comment: Correction, 50.02 fill
Comment: Only 13.5 basis points of risk with that fill. If close is above Friday's high, will add another 16.5 basis points of risk
Comment: Will not pyramid based on existing pattern
Trade closed: stop reached: Stopped out


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