Trade Idea: WES.ASX – VCP Breakout Play (Buy Setup)🔹 Entry:
✅ Bought @ $85.45
📍 VCP-style setup with tight consolidation above 21EMA/50MA
📈 Early signs of breakout with volume confirmation
🔹 Stop Loss:
🚨 Initial Stop @ $81.56 (Below supertrend support)
⚖️ Risk defined at ~4.6% from entry
🔹 Target Zones:
🎯 T1: $89.30 (1R)
🎯 T2: $91.80–92.50 (2R zone & prior resistance extension)
🔹 Technical Notes:
• Strong uptrend intact
• Supertrend, 21EMA, and 50MA all stacked bullish
• Recent consolidation near highs = strength
• Clean structure with volume dry-up prior to breakout
• RSI holding above 50, MACD positive crossover
🔹 Trade Management Plan:
• Take partial profits at +1R (~$89.30)
• Move stop to breakeven after 1R achieved
• Trail remainder using short-term moving average or price structure
🧠 Context:
WES shows strong leadership within ASX discretionary retail. This breakout could signal the next leg higher if volume expands and price holds above $85.60–86.00.
🔔 Watching for breakout continuation above $86.50 with strength.
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