TomKirk
Long

Wesfarmers continuation of huge horizontal zone breakout

ASX:WES   WESFARMERS LIMITED
-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

Comments

Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter
Profile Profile Settings Account and Billing Refer a friend My Support Tickets Help Center Ideas Published Followers Following Private Messages Chat Sign Out