Riot Platforms, Inc.

Trading Triangles and Channels

74
Great trading day, loved the quick action on the charts.

Today, RIOT formed a symmetrical triangle in the morning hours.

I marked the top resistance levels, mid support/resistance levels, and bottom support levels.

It was a fantastic freefall from the top resistance levels to mid support levels, where it then formed resistance and plummeted to bottom support levels.

Trade #1 - Up $800 USD in Paper Account

Trade #2: Up $350

Trade #2 was based on Descending Wedge and Channel patterns, forming new support and resistance levels.

It's very hard to see on the 15 minute chart, as I was working with smaller time levels that I cannot publish about.

How do you manage risk? Share any risk-management tactics, traders!

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