MNS ascending triangle break out

ositrades Updated   

Looking at a rejection at 0.435 and watching out for a bounce off the trend line, which will confirm the break out.

Trade at your own risk. All the best!
We got rejected at 0.435, so looks to play out fine so far.
Trade active:
It is ON! Looks like it didn't need that last trend support. RSI is now very stretched on the buy side, so looks like we will test the breakout line ($0.435) again. If successful, this is likely mooning! TP1 0.5, TP2 0.585
Just saw a great post from @HeWhoMustNotBeNamed on fitting patterns (www.tradingview...s-to-your-bias/?utm_source...) and looking back at this, I now feel the ascending triangle had already ended at 0.435!

Trade active:
Interesting playout on this. We had a fakeout, then a stop loss killer and THEN a breakout. Looks like the forces-behind (instuz) wanted to wash out the crowd before going guns blazing. Looking at 0.5 as first target.
Amazing, first target acheived already! :D Looking at second target @ 0.585.
Trade closed: target reached:
That was it I guess. Now looking at a bearish pattern in play. Uptrend channel break from trend line support, with target of 0.295.

I don't trade short positions, so will watch this on sidelines and look to buy @ 0.295. See you there!


We are about there, so this aged very well! Will look at bullish divergence at 0.295 area for entering long.
Trade closed: target reached

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