Pennant formation on PATELENG

6月14日

PATELENG formed a Pennant chart pattern on daily chart. Multiple support and resistance were tested before the breakout. On the breakout day there was above average volume pushing the price higher. Looking at the current price level seems ideal time to enter with stop loss just below the breakout candle and target the width of the Pennant. This trade offers ideal risk reward of 1:2 or probably higher depending on how the trade moves. Would be good if you have a trailing stop loss based on where price takes support next.

Hope you like this idea. If you like, please boost this idea or leave a comment below on what you think. Otherwise, happy trading :-).

7月5日

註釋

Price appears to have successfully retested support. Market rewards those who are patient.