-Primary pattern is a 66 month horizontal range -Of which as an unmet target of 57.31 -8 day pennant in which I tried the long side of has morphed into a 5 week flag with well defined boundaries -Tight bollinger band squeeze on the daily -An attractive R/R
30 basis points of risk planned
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Big picture
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Stop buy @ 50.51 SL @ 49.70 TP @ 57.17
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Stop @ 49.76 prior days low. Breaking out now but on open 'retail' volume. Still keeping my buy stop above July high as I need that extra conviction for this trade
Trade active
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Order filled
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One of my pet hates is when price plumbs my order in the morning then turns down. It is not a detractor from the setup but always makes me tense to see if price will turn up short of my stop
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Am somewhat more at ease after today, Still dubious