Triangle Formation:
Approaching breakout
Though, my bias is on short position:
TP is 50% of the base of the triangle
Approaching breakout
Though, my bias is on short position:
TP is 50% of the base of the triangle
Trade closed: target reached:
I lost my trade here. The market has proven me wrong on my bias. However, the pattern was actually really good. For a triangle pattern, breakout is always imminent and the profit target is always 50% of the based of the triangle. Congratulations to those who had a good run last Friday.