Growthpoint counter-trend long setup

This particular system has not generated many triggers of late but another counter-trend setup has materialised as the end of day 3LB on Growthpoint painted green (white on the chart). Given the sharp pullback that price has experienced over the past month, this has set the scene for a potential move back upwards. The full target is at 3-1 with a proposed entry at R25.90 looking for a move to R28.36 and a stop as a close below R25.08 but if it does trigger we will look to ratchet up the stop to protect capital and preserve any profits which may materialise.