Expecting the 4H triangle to give way today or tomorrow. Latest by this weekend. It looks like it will break upwards. Either side, the R:R is very good. So, we need to sit down and wait for it to make a decision. Best. Play is to enter with buy-stop and stop-loss in either direction. With volume declining along with big candles in red, it presents more evidence for a short.
Be prepared for the breakout this week, and manage your risk properly.
Not a financial advice.
Trade active
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Short side of the trade is active now. Entry price: 255
Trade active
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Take profit moved to entry price at 255. Hold nerves till 210 but protect the profits also
Trade closed manually
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Closed trade with profits at 248 - double bottom on the 4H - in the last two weeks. Should short from above or below 246 now
Trade active
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After taking the profits at 248, I got in back at 252.6 after we saw a late attempt by the Bulls to push the price up. They failed.
My trailing stop is at 242. My advice is to take Half profits now and half with a trailing stop at 248. Never give back to the market what you have taken from them. My principle
Trade closed manually
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Stopped out at 237. Profits made: 5R. Loved this trade