Here is a nice stock that has broken out of a triangle. So how can we trade it? I have listed the three possible ways it can develop.
A. Ending diagonal (fast) - it could go straight up, if so you can make your entry on the next wave down and exit fast on completion of the wave up before price crash
B. Deep correction (fast) - wait for the breakout in the new structure or predict bottom and enter the wave down aggressively
C. Sideways/triangle correction (slow) - wait for the breakout and enter or enter at the bottom of the new structure
IMPORTANT: The setups posted here are not trade calls or signals and are intended for informative purpose only and you should use your own strategy to determine entries and exits. They reflect my general view of the market and does not mean you should take the trades without a proper trading plan or strategy, If you would like to get all my setups together with exact entries and exits with please visit www.thepiphunter.com and subscribe.
A. Ending diagonal (fast) - it could go straight up, if so you can make your entry on the next wave down and exit fast on completion of the wave up before price crash
B. Deep correction (fast) - wait for the breakout in the new structure or predict bottom and enter the wave down aggressively
C. Sideways/triangle correction (slow) - wait for the breakout and enter or enter at the bottom of the new structure
IMPORTANT: The setups posted here are not trade calls or signals and are intended for informative purpose only and you should use your own strategy to determine entries and exits. They reflect my general view of the market and does not mean you should take the trades without a proper trading plan or strategy, If you would like to get all my setups together with exact entries and exits with please visit www.thepiphunter.com and subscribe.
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looks like we have an ending diagonal
