Currently long on a "front-running" trade for this triangle pattern. (vantagepointtrading.com/anticipating-chart-pattern-breakout-direction/)
After a strong run higher prior to the pattern, looking for a continuation. Will be watching for confirmation with a break higher out of the pattern, and may add to the position at that juncture.
There are two targets posted. One is very conservative just in case the sector doesn't move up or the breakout is weak. If the breakout is strong (strong price move with strong volume, and the sector is moving up with it) then will be looking for the higher target.
After a strong run higher prior to the pattern, looking for a continuation. Will be watching for confirmation with a break higher out of the pattern, and may add to the position at that juncture.
There are two targets posted. One is very conservative just in case the sector doesn't move up or the breakout is weak. If the breakout is strong (strong price move with strong volume, and the sector is moving up with it) then will be looking for the higher target.
Cory Mitchell, CMT
Stock and forex trading insights at tradethatswing.com/
Stock and forex trading insights at tradethatswing.com/
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.
Cory Mitchell, CMT
Stock and forex trading insights at tradethatswing.com/
Stock and forex trading insights at tradethatswing.com/
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.