good volume ramping up on this bull flag BREAKOUT WATCH for possible breakout above 70.78, no resistance in area just above. Type: True breakout from double resistance. Target: 74.37, 6% Stop: 69, Loss: 1.6%, Profit/Loss ratio: 3.8 : 1 - Excellent CURRENT PRICE 70.13, at resistance, 70.03 ± 0.77, type double, strength 10 RESISTANCE ABOVE None.
VAR now a confirmed breakout BREAKOUT CONFIRMED breakout above 70.79, no resistance in area just above. Type: True breakout from double resistance. Target: 74.38, 4% Stop: 70.17, Loss: 1.9%, Profit/Loss ratio: 2.1 : 1 - Fair
----Profit/Loss ratio: 2.1 : 1---i never understand this ratio. based on what it''s calculated? based on target vs loss? imo -pointless\useless.is there probability involved in this ratio calculation?
Breeakout target over stop loss, VAR has already moved a ggod amount through the confirmed price so P/L is going to be lower (less profit) and target may be a little conservative in this case.
for this gap-ups, I hate it. I like big thrust up bars chart. I am kind of thinking buy it. easily clear 75, tgt is at 75 to 77.