BTCUSD 1D CONTINUATION TRIANGLE BREAKOUT TRADE

Price is in a consolidating continuation triangle pattern
There is a nice bullish trend before this pattern
You see dropping interest in trades by the dropping volume bars
And dropping volatility found in the dropping ATR values
Volume is the amount of $ that went into a particular candle or in Forex the # of trades that took place
Volatility is the amount of price movement that occurred. Use the ATR to measure the price movement
A continuation triangle pattern expects the bullish trend coming into it will continue on the breakout.
But be prepared if price movement decides to retrace with a bearish breakout.
Buy on a daily close above the triangle
Sell on a daily close below the triangle

Trade a full size position if the volume
of the breakout candle is at least equal
to the average volume.

Use 1/2 size position if the volume is at
least 75% of the average volume

If closed candle is more that 1 ATR outside of the pattern, stand aside and wait for price to retrace back to that 1 ATR level to get in.
If you are afraid you might miss it put a limit order at the 1 ATR level and price will trigger it as soon as $ pulls back to that level.

SL is 1.5xATR of breaking bar
TP is 1xATR of breaking bar
At 1st TP close 1/2 of position.
Move SL to break-even
Let remainder of trade run

Watch trade - cryptocurrency trades all weekend

Comment:

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Comment:

1st 1/2 position hit 1 ATR TP @ 9173.45
2nd half position run
SL moved to breakeven