BULLISH ASCENDING TRIANGLE This triangle usually signals a bullish trade, however the opposite seems to be occurring, let's see how this plays out. (PL:PRICE LABEL)
MY TRADE - Short: a. Await 30m candle to close beneath the support line b. Enter trade within the closing 3 minutes of the candle SHORT:3919 Stop Loss at Open of previous candle PL:3924 c. Allow new candle to close (30mins) d. Place Protective Stop at the Open of Trade candle (previous) PL:3912 e. Take 50% Profit PL:3830 f. Allow position to run with a Trailing protective Stop on final 50% at the Mid Point
OPPOSING TRADE - Long: (Did not play out) a. Await the 30m candle to close above the resistance line b. Stop loss at Open of previous candle PL:n/a c. Allow next candle to close (30mins) d.Place Protective Stop at the Open of Trade candle (previous) e. Take 50% Profit PL:4050 f. Allow position to run with a Trailing protective Stop on final 50% at the Mid Point
I appreciate your feedback.
Trade closed: stop reached
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Market seems stronger than I have anticipated, we are in a mini bull trend
Bear target not reached Protective stop @ 3912 Should I have locked in 50% profit at the half way trailing stop mark?