[B]Student’s Question:[/B]
Here is my morning star pattern for review. The stop would be at 1.0430, buy order at 1.0496 which on 1:2 risk / reward makes the profit target 1.0631. I don’t think I would have traded in here because it didn’t seem likely to me that the profit target would be hit. As it turns out, the price did meet the profit goal on the next 2 days. Would appreciate it if you could comment and also whether you see the support line as valid.
[B]Power Course Instructor’s Response:[/B]
Very nicely done…good work all round.
And, yes, your support line is valid.
Personally, I like to place my line as close to the tops/bottoms of the bodies of the candles as opposed to connecting only the wicks…see the chart below. Either way is fine, however.
