A smaller re-accumulation pattern within a larger 6 month long re-accumulation pattern. Culminating in a smaller/larger TSO (Terminal Shakeout). This trade offers an excellent reward:risk profile of 4.5:1 at the current level. Ideally, we wait for a JTC (Jump of the Creek) on the smaller pattern, followed by a BUC (Back Up to the Creek) on low volume; this would be the more conservative entry. The more aggressive entry would be to enter now before confirmation. I wish I had seen this chart on Friday, because I could have entered a small probe position yesterday, and taken advantage of the nice up days of yesterday and today (woulda, coulda, shoulda). I may enter a very small initial position tomorrow and add to it when and if we get a pullback. Good trading all.
Komen:
Correction, TOS on the larger pattern is SP
Komen:
Trade playing out well right now. Remain long at this time.