Symmetrical Triangle

Updated

"Breakout Direction: The future direction of the breakout can only be determined after the break has occurred. Sounds obvious enough, but attempting to guess the direction of the breakout can be dangerous. Even though a continuation pattern is supposed to breakout in the direction of the long-term trend, this is not always the case.

Breakout Confirmation: Some traders apply a price or time filter to confirm validity. The breakout should occur with an expansion in volume, especially on upside breakouts."

- stockcharts.com/school/doku.php?id=chart_school:chart_analysis:chart_patterns:symmetrical_triangle_continuation

Note

Still waiting for breakup (or -down) confirmation (~ 3% price break).

Stoploss if breakup:

Mirror it if breakdown.

Note

Obvious breakup. Lets see how it goes :)

Note

"Return to Apex: After the breakout (up or down), the apex can turn into future support or resistance. The price sometimes returns to the apex or a support/resistance level around the breakout before resuming in the direction of the breakout."

This should be a good opportunity to hop onto the train in case u missed it :)

Note

Just interesting to see that a breakout can also have a symmetrical triangle again and breakout again!

Note

Be aware of profit-takers at ATH resistance.

Someone recommended to sell and wait till the storm is over and we pass it to go long again. I personally want to stick to my initial plan.

Trade closed: target reached

I hope you guys had a great time as well. Take your profits and feel good no matter if it goes up or down afterwards. :)

UnknownUnicorn951173

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