Sell on a daily close below the triangle. When the target of 1 ATR is hit, take 1/2 off and set the stop on the remainder to breakeven. Follow stops until the market takes you out. Initial Stop Loss is 1.5ATR. If a daily candle closes back in the triangle after you enter, close for a loss without waiting for it to hit the SL.
love to see the hard work to learn this skill, trading is all about discipline and having a proper rule based strategy
IsItCoffeeYet
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@transparent-fx, Absolutely, one of my break-throughs was finding a consistent trade management plan (1ATR first TP & 1.5ATR SL). I use this trade management on all my trades and it affords me a high win rate. I look for consolidation patterns that fit the criteria of reducing volume and volatility throughout the pattern. Then I just religiously follow the rules.