DDD Head and Shoulder pattern measured move targets on the daily
Head & shoulder pattern breakout on the day chart. Measured move targets are the fibonacci projections 2x and 2.618x the H&S high to low range.
Buy at Open; Stop loss at Fridays breakout day low (4.89) minus .13 = Stop loss @ 4.76.
Target #1 at Fib projection 2x = 6.40; Sell 70% of shares with new stop loss at sell price ((6.40)-.13) = 6.27
Target #2 at Fib projection 2.618x =7.30; sell the 30% of shares still remaning if not already stopped out.
Buy at Open; Stop loss at Fridays breakout day low (4.89) minus .13 = Stop loss @ 4.76.
Target #1 at Fib projection 2x = 6.40; Sell 70% of shares with new stop loss at sell price ((6.40)-.13) = 6.27
Target #2 at Fib projection 2.618x =7.30; sell the 30% of shares still remaning if not already stopped out.