Bought 475 CPE at 2.00.
The limit order was for 750, but it only executed for 475. The rest might come in, or it might not. Here's the chart:
It made about a 60% price move from the base of the last consolidation to the base of this triangle. I see price action going up another 60 percent to about 3.20. Significant supply at 2.40 and 3.50
My assumptions are that CPE just broke out of a bullish triangle/flag continuation pattern and will repeat its prior price movement. This assumption will be proven wrong if it breaks down below the ascending triangle line, currently at about 1.78
UPDATE: Sold at 2.46. Here's the chart and reasoning why:
To measure price implications of triangles, from the text book:
“Draw from the Top of the first rally that initiated the pattern (in other words, from its upper left-hand corner) a line parallel to the Bottom boundary. This line will slope up away from the pattern to the right.Prices may be expected to climb until they reach this line. Also, as a rule, they will climb, following their breakout from the pattern, at about the same angle or rate as characterized their trend prior to their entering the pattern. “
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