Breakout of Symmetric Triangle on SPCE
Updated
Virgin Galactic has broken out of a very large symmetric triangle on the daily and back tested it, which I almost missed. Based on the measured move of the break out, we could expect it to reach the 88.6 retrace, but just in case, we'll have profit taking levels at other fib lines. This one could take a while to play out.
Trade closed: target reached
We got to our second take profit before it fell to stop us out. Then it took off back to 'space', past the first take profit, and is flirting with the second again. Good trades.Trade closed: target reached
The second target was reached, along with the third. A successful trade.
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