Breakout on the cards with ascending triangle formation

Long term trend is up and price continues to respect that trend line, however ascending triangle formation is in place. Majority of the time this means it is a continuation pattern (however can also be a reversal pattern so a tight stop is advised).
Look for long position on the trend line with confirmation via a candlestick pattern/ oscillator with stop being on a closing basis below at 2590

Bình luận:

A good long entry is around the 2590-2610 level... tight stop/ flip position should be in place in case of breakout to the downside.

Giao dịch đang hoạt động:

Entered long position following the trend lint, Now I am looking to average in along the trend line and keep a tight stop.

Bình luận:

Another Pin bar and fractal setup completed on Friday close (these both signals reversal to the upside).... Looking for the breakout to the upside hopefully this week.
If no breakout look to take some profit on 1/4 or 1/2 of position following the bounce from and close below the upside resistance.

Bình luận:

If current candle closes below the trend line i will look to take 25%-50% profit on the trade.

Bình luận:

Look to take about half the profit around the 2785 level...

Bình luận:

Initial target achieved +185 points, still long 50% of position size and will look to implement a trailing stop to lock in remainder of profit.

Đóng lệnh: đạt mục tiêu:

Position closed on the trailing stop during Tariff's between US & China. + 185 points on initial 50% target and +166 on stop for 2nd 50%

Total 351 points in 6 and 1/2 weeks