🔹 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.
DISCLAIMER : The content and materials featured are for your information and education only and are not attended to address your particular personal requirements. The information does not constitute financial advice or recommendation and should not be considered as such. Risk Management is Your Shield! Always prioritise risk management. It’s your best defence against losses.
✅ 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.
DISCLAIMER : The content and materials featured are for your information and education only and are not attended to address your particular personal requirements. The information does not constitute financial advice or recommendation and should not be considered as such. Risk Management is Your Shield! Always prioritise risk management. It’s your best defence against losses.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.