Wesfarmers take 2# long

-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

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

Trade closed: stop reached

I was wrong wrong wrong

TomKirk

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TomKirk