Wesfarmers continuation of huge horizontal zone breakout

-66 Month Horizontal range primary pattern
-Measured move up to 57.31
-8 Day pennant with horizontal boundary completion on friday close
-50SMA peeling away from 200SMA

30 basis points
Will enter only with limit order to retain a favorable R/R

Note

Limit buy order @ 50.55
SL @ 49.60
TP @ 57.25

Note

Filled @ 50.20 on the open

Note

Correction, 50.02 fill

Note

Only 13.5 basis points of risk with that fill. If close is above Friday's high, will add another 16.5 basis points of risk

Note

Will not pyramid based on existing pattern

Trade closed: stop reached

Stopped out

TomKirk

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TomKirk