The classic strategy:
Entry: Take a long position at the breakout of the resistance
Stop: The stop is placed below the last lowest
Target: Theoretical target of the pattern
Advantage: The theorical target of the pattern is almost always reached (88%).
Disadvantage: There is 1/4 of false breakouts
Entry: Take a long position at the breakout of the resistance
Stop: The stop is placed below the last lowest
Target: Theoretical target of the pattern
Advantage: The theorical target of the pattern is almost always reached (88%).
Disadvantage: There is 1/4 of false breakouts
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.