BTCUSD triangle has formed, possible continuation downward ?

Hi guys, price is starting to consolidate in a triangle formation and since triangle is a continuation pattern, we could see further price declines. So what I am going to do is wait for the red candle to close bellow support line and then I will enter short trade. I will use “color options” to trade this set up, which means I will get paid fixed amount for every red candle that forms after my entry. It is easier to trade this way, since I do not have to worry about stops getting triggered. My rules are the same as before.

If you are not familiar with “color options”, ask me in the comments section or join a chat here on tradingview - candle color options.

Rules:

Worst case scenario: if I will lose on 4 candles in a row, I will take my losses and look for a new set-up.

Best case scenario: If I will win on 4 candles in a row, I will gladly take my profits and look for a new opportunity.

I will not trade more then 10 candles in a row and I will stop trading if I am up by 4 winning trades.
For example: if my first candle is a losing candle but the next 5 candles are winners, then I will stop trading, since I will be up by 4 wins (5 wins - 1 loss = 4 wins).

Please follow, like and comment !

Trade active:

Red candle closed bellow support line, I will start buying "color options" on red candles.

Order cancelled:

The price has moved sideways, so I will abandon this set-up and look for a better opportunity.