A bullish symmetrical triangle breakout has happened recently and it might be happening again.
Things to note:
- Established trend should exist (Uptrend in this case)
- The triangle should have lower highs and higher lows as indicated.
How i trade this breakout :
- Entry price placed slightly above previous high of resistance trend line
- Stop loss place slightly below previous low of support trend line
- Target price measured from highest and lowest point of trend line
RSI seems to be acting the same as well.
Wishing you guys a Merry Christmas and Happy New Year !
May the trades be in our favour. Cheers =)
Things to note:
- Established trend should exist (Uptrend in this case)
- The triangle should have lower highs and higher lows as indicated.
How i trade this breakout :
- Entry price placed slightly above previous high of resistance trend line
- Stop loss place slightly below previous low of support trend line
- Target price measured from highest and lowest point of trend line
RSI seems to be acting the same as well.
Wishing you guys a Merry Christmas and Happy New Year !
May the trades be in our favour. Cheers =)
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.
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.