Early ascending triangle should retest the lower trend line today. If it goes up to $8.11 I'm buying. If it continues lower no dice.
This also works as an uptrend buy setup.
I set the Stop loss a little wide in case the bottom of the triangle changes. It only has 2 touches so it isn't very reliable. As long as we put in a higher low the trend is still valid. I'm leaving enough room for that to occur.
I only want to stop out if the trend is bad.
I like Ascending Triangles. If I get ahead, I can inch up my stop loss based on the lower trend line.
If it hits target soon, that's fine. If it travels to the near the end of the triangle, I'll move the target up and hope for a breakout. Either way I'll have some gains locked in.
This also works as an uptrend buy setup.
I set the Stop loss a little wide in case the bottom of the triangle changes. It only has 2 touches so it isn't very reliable. As long as we put in a higher low the trend is still valid. I'm leaving enough room for that to occur.
I only want to stop out if the trend is bad.
I like Ascending Triangles. If I get ahead, I can inch up my stop loss based on the lower trend line.
If it hits target soon, that's fine. If it travels to the near the end of the triangle, I'll move the target up and hope for a breakout. Either way I'll have some gains locked in.