Wassup guys! Waves broke the dam in form of this triangle📐 and I think there is chance for "splash" to 3.07 and even higher, but we could see some correction first. I traded the initial breakout but one can set BUY LIMIT order to previous range high to catch🎣 the potential pullback. As always ... don't chase the market, let the market come to you.
ENTRY: local high @ 2.515
STOPLOSS (SL): local low @ 2.315
TARGETS (TP): height of the triangle projected from midpoint of the local range (BUY LIMIT - STOPLOSS) @ 3.07 but I see also lower hurdles @ 2.82 and 2.95.
REWARD RISK RATIO (RRR): 1.5 | 2.15 | 2.75
INVALIDATION: when SL level hit
Check my other stuff in related ideas.
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⚠️Disclaimer: I'm not financial advisor. This is not a financial advice. Do your own due dilingence.
ENTRY: local high @ 2.515
STOPLOSS (SL): local low @ 2.315
TARGETS (TP): height of the triangle projected from midpoint of the local range (BUY LIMIT - STOPLOSS) @ 3.07 but I see also lower hurdles @ 2.82 and 2.95.
REWARD RISK RATIO (RRR): 1.5 | 2.15 | 2.75
INVALIDATION: when SL level hit
Check my other stuff in related ideas.
Please boost🚀, comment🗣️, follow me✒️, enjoy📺!
⚠️Disclaimer: I'm not financial advisor. This is not a financial advice. Do your own due dilingence.
Trade closed: target reached:
TARGET1 hit 🎯. No deeper pullback before. If price drops back into the triangle I may rebuy around 2.5 to ride it up once again.
Trade closed: target reached:
TARGET1 hit, pullback. TARGET2 hit, pullback🎯. Beautiful...
Comment:
So the TARGET2 been spot on. Check the huge correction when we dropped back to the entry level, triangle upper edge and even to the range midpoint @ 2.415. Now after breaking up the orange downtrendline it seems we could be headed up again. I will be buying if price drops to 2.48 to test the triangle upper edge. Target would be TARGET3 which is still to be hit.
Comment:
Well the BUY LIMIT order @ 2.48 has not been filled as the market reversed bit sooner and went up big time without me adding to my exposure. I still have one running position from the beginning leaving it for TARGET3 which has been missed by a smidgeon. Beautiful price action anyway. Patience is the key...
Comment:
The last bit hit the stoploss few days ago. Still nice profit in total with the 2 winning positions.
