I. Analysis 1. Stock in strong uptrend as identified by the series of hh/hl - we are looking at long opportunities 2. Stock broke was has been forming a tight build up with decreasing volatility conferring us a structure to trade from - we have a value zone 3. Price broke out to make new hight in the last session and hels - we have an entry trigger
Normally prefer to trade pullbacks, but this tight build up prior breakout confers assertiveness to the breakout and gives us a reasonable level to place our stop loss.
II. Trade 1. Enter next candle 2. SL 1ATR below low of the underlined build up 3. TP next swing high