Triangle break upwards

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
1232 7 14
Divergence from bearish pattern . We might bubble here.
Trade active: Continuation of trade. Raise stop loss to 375.
Comment: Continuation. Raise stop loss to 387
Trade closed: target reached: Trade closed. Futures premium at 7% already, signalling euphoria. Disappointed it occured so early. Current price 2863CNY. Good profit.
but feel we may go higher
+1 Reply
up we go
path i feel we may take to $700 and then ATH

Follow fontas and you may get wrecked. According to him he has lots of money so he can risk crazy trades. He gets one right he makes bank.
Realistically though maybe 400 tops.
Fontas Galvin
It's the breakout from a symmetrical triangle under 20% of price movement, according to Technical Analysis of Stock Trends 9th, a break up signals continuation of trend.

I don't see how this trade is crazy. It's a long target with a tight stop loss just under triangle tip. High reward low risk.
+3 Reply
no your missing the bigger triangle here not a break out yet sorry
Are you trading off that one signal or is there something else here that's influencing your decision to take a huge risk/reward long?
Fontas chequeyoxbt
There was a bearish fractal forming, but it got denied by the up break. Symmetrical triangle broke upwards, in technical analysis it means continuation of trend. Trends rarely revisit triangle tip after breakup. As such, rare opportunity for a high reward low risk long.

High reward = far target.
Low risk = tight stop loss, raised as the trade progresses.
+1 Reply
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