Touch the upper trend line, then a partial decline to the 50ma/200ma and then breakout above. Target $8600
Comment:
I entered long after the break above trend line and retest about $8132. Keeping my stop loss at entry now, if we don't see some good volume follow by the end of day then we could see this develop into a rising wedge (bearish).
Comment:
Closed position at $8210 with small profit. Not seeing any convincing volume that would go along with a breakout from a wedge. No positions now.
Comment:
Well, target hit and I was on the sidelines watching. Pattern was valid, good retest and volume was stagnating but not terrible. Biggest hurdle was my own emotions and psychological factors.