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
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
评论:
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.
交易开始:
Entered long position following the trend lint, Now I am looking to average in along the trend line and keep a tight stop.
评论:
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.
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.
评论:
If current candle closes below the trend line i will look to take 25%-50% profit on the trade.
评论:
Look to take about half the profit around the 2785 level...
评论:
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.
交易结束：到达目标:
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
Total 351 points in 6 and 1/2 weeks