MikePips
Short

Ascending wedge into Symmetrical Triangle trade

FX:USDJPY   U.S. Dollar / Japanese Yen
35 1 2
Ascending wedge pattern that ended in a symetrical triangle. The ascending wedge typically breaks out to the downside. Im using 1.618 fibonacci level to target the 104.607. I put my second target at 50% of the first one. I will be sliding stops at 25% of each trade.
Comment: I slid my stops on the final trade to 105.500 to leave some space for a retracement if there is one
Comment: Slid SL to 105.343 , and was stopped out. 25 pip gain on second trade and 6 on first.
Comment: 16 pips on first trade not 6.
Trade closed: stop reached: I slide my stops and was stopped out in profit.
I published late. Closest tp has almost been hit by my broker but not yet.
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