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RAD2003_DRV
Feb 19, 2023 12:15 PM

Symmetrical and Ascending Triangle w/SL Long

1NVESTRHODIUM ETFJSE

Description

Symmetrical triangles are signs of continuation of a momentum, and usually the target is the height of tha triangle's base, which it reached. There is also an ascending (bullish) triangle forming shortly aferwards in this 1W period chart. You can see the importance to place a Stop Loss: in this case the win/lose ratio was 2:1 (taking profits also at the heigth of the ascending triangle, whatever comes first), but it didn't reach the target. A candle with a big downward wick formed 12 weeks after the entry point (a "shake out"). Notice that the lines were drawn taking into account at the candles and not at the wicks.
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