Exiting the green paralell channel activates a trade in the direction of the breakout.
Trade active:
So far playing out nice, i am moving my stop down from9541 to 9310 for the time being, i do not want to get caught in a huge counter reaction. It has happened many times in these couple of months that after a breakdown we spiked right back and continued the opposite to the breakown.
Comment:
I am going to be careful here, on the 4h we might still be in the triangle(bottom of it) if we connect the closes, i am setting my stop to break even.
Trade closed: stop reached:
Breakeven trade, with the price consolidating i could realise that the 4h is bigger making atriangle, same as it was on the 1h but wider. Seeing that i moved my stop to a bit below breakeven and got stopped out there. Now looking for the same setup as described here but on the 4h triangle.
Comment:
analysis of the 4h triangle and trend
