U.S. Dollar / Japanese Yen

Short

Ascending wedge into Symmetrical Triangle trade

Updated

Ascending wedge pattern that ended in a symetrical triangle. The ascending wedge typically breaks out to the downside. Im using 1.618 fibonacci level to target the 104.607. I put my second target at 50% of the first one. I will be sliding stops at 25% of each trade.

Note

I slid my stops on the final trade to 105.500 to leave some space for a retracement if there is one

Note

Slid SL to 105.343 , and was stopped out. 25 pip gain on second trade and 6 on first.

Note

16 pips on first trade not 6.

Trade closed: stop reached

I slide my stops and was stopped out in profit.

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