PPB: High Priced Stock, Breakout with Correction

Thank you for your continued support :)

Strategy: Moving Averages Formation

Bias: Bullish. Breakout from long term resistance of 18.84 and the shaded box consolidation range, followed by correction with the lower shadow touching 50% key level and closing up exactly at the mentioned 18.84 level.

Stop-loss: 18.54, the open price of the breakout candle; or 18.46, the half-yearly MA as support

1st Target: 20.00; also a psychological level.
2nd Target: 21.36

Gentle reminder: Plan your trade and trade your plan. Peace out!

Dagangan ditutup: hentian tercapai:

6 Jan 2020: Price crossed-under the stop-loss 18.46, barely touching the 0.618 retracement level, before bouncing back to close at 18.78. Ouch!

Take care and trade safe :)