AIS Safe breakout trade entry
Updated
One of the few remaining copper plays in ASX after Sandfire Resources.
Bottom is in, formed a rounding base bottom before reversal and current trend higher.
Price level on the edge of volume profile peak - could move quicker from here if momentum continues.
Trading the break out setup on the 1H. expect to move over the low vol profile region, Entry around the 0.725 region, TP target around 0.855. SL around the supported region 0.65.
Bottom is in, formed a rounding base bottom before reversal and current trend higher.
Price level on the edge of volume profile peak - could move quicker from here if momentum continues.
Trading the break out setup on the 1H. expect to move over the low vol profile region, Entry around the 0.725 region, TP target around 0.855. SL around the supported region 0.65.
Note
Broke out on high volume and is retracing after a getting stretched. Volume on pullback is getting smaller which is what we want - most people are accumulating and not selling their positions.
Looking for entry around previous resistance level. As long as we don't get impulsive moves with high volumes on the pullback.
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