BQI Trade Idea

 BQI is in a bigger consolidation triangle-note the stops have been hit on the upside and downside, I call that a "Crazy Ivan" for those who saw The Hunt For Red October. It's a Russian submarine maneuver designed to detect any subs that follow in the prop wash where they can not be detected. In trading, it's clearing all the stops ad limit orders and often happens before a breakout- at least with increasing frequency.

 60 min 3C positive and negative divergences at the head fakes.

The 15 min chart is also showing a positive divergence on the recent downside break down.

I like the trade here, and here's why...

looking at the daily chart again, note the "tweezer bottom" support put in today and Monday, that's an area where I'd put a stop just below so there's not too much risk, especially as most traders were already stopped out on the break of obvious support-that's why we don't put stops in places like that and NEVER on the books with our brokers if we can help it. If the trade goes bad, not much risk there, if it goes well, then you have a great entry.