Registered User
Joined: 9/22/2005
Posts: 849
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AXU just now broke up out of a well formed Dragon's beak on good volume.
IIt broe two major resistance levels at 8/26 and 4/14. It's clear sailing into uncharted territooty.
TSV. MS. and BOP all looking good.
The flag pole is 1.06 long and top is at 4.21. I set my target at 5.40 (the length of the flag pole added to
the top of the flag pole) and the stop at 4.14 (the bottom of the Dragon's beak, see the 10 minute chart)
The expected profit is 1.06.
The risk is 4.23 (entry) minus 4.14 (support) = 0.09.
The Profit/Risk ratio is 1.09/.09 or 12.1.
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Registered User
Joined: 12/2/2004
Posts: 1,775
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Bcraig, great eye on spotting that setup, great execution, high five for ya. Really enjoyed reading your detailed trading steps, method. As for your 5.40 target, sounds fine to me but as first target for partial profits. This one seems to have some great momentum going and would not be surprised to see it challenge all time high at 6.50. I never saw this one, missed it, impossible to watch and see every setup out there. Final comment...for crying out loud next time you come across a great looking setup like this, post it here pronto before it breaks out!:)
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