BAX - flag pattern, volatility contraction
Actualizado
BAXInteresting setup in BAX - it was in a huge long-term downtrend that was broken in the second part of March. It's now digesting recent gains. The volatility is contracting, so it is slowly accumulating power for the next move. My plan is to go long when the price gets above the recent high VWAP with the stop loss below Tuesday's low (13 Apr), when it opened with a gap down, but it was immediately bought. To be precise about the stop loss, I would set it 1,5 ATR (on the 15M timeframe) below that low.
Nota
R3 reached, took partial profit, moving SL below today's low.Nota
Reached recent high. I want to sell breakouts, so I'm taking another partial profit. 1/3 of a position left. Will try to ride as long as I can until I'm stopped out.Operación activa
<forgot to change the status to active>Operación cerrada: precio stop alcanzado
stopped out below today's first candle low (5min TF) - at 86.16
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