IPL was a losing trade. I bought in on the basis it would complete a resistance break pattern at $2.40 to give a target of $3.00. Price formed a falling flag and the last 2 weeks candles suggested to me that price might be moving from the top boundary of that flag back to the bottom (I was hoping it owuld breakout an go higher). I expect the trade will come good (eventually!) but with a potential 20% fall to get back to the lower flag boundary staring at me, I felt it was better to close out the trade, see where price goes and possibly buy back later. Time will tell.

IPL 27Aug2020


Robert Norman

Phone: 0428 346 951
Email: robert@sharecharting.com.au

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