Price has created an ascending triangle pattern which has a bullish bias
The declining Volume and ATR/Volatility levels indicate traders have lost interest in investing in Boeing
This is creating consolidation pressure on the top triangle level @ 379.30
Trade Plan
Buy a daily close above 379.30
Breakout Candle must be 100% of the average volume for a full size position
If bar is only at 75% of the average volume then only trade 1/2 position size
Open two trades - 1% each
Stop Loss is 1.5 x ATR
1st Take Profit is 1 x ATR
2nd trade no TP let profit run
When 1st TP hit, move SL of 2nd trade to breakeven
Watch our YouTube video for further information on this trade
The declining Volume and ATR/Volatility levels indicate traders have lost interest in investing in Boeing
This is creating consolidation pressure on the top triangle level @ 379.30
Trade Plan
Buy a daily close above 379.30
Breakout Candle must be 100% of the average volume for a full size position
If bar is only at 75% of the average volume then only trade 1/2 position size
Open two trades - 1% each
Stop Loss is 1.5 x ATR
1st Take Profit is 1 x ATR
2nd trade no TP let profit run
When 1st TP hit, move SL of 2nd trade to breakeven
Watch our YouTube video for further information on this trade
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Our free Telegram channel: t.me/TradingStrategyGuides