Symmetrical Triangle

16. Mai 2017

"Breakout Direction: The future direction of the breakout can only be determined after the break has occurred. Sounds obvious enough, but attempting to guess the direction of the breakout can be dangerous. Even though a continuation pattern is supposed to breakout in the direction of the long-term trend, this is not always the case.

Breakout Confirmation: Some traders apply a price or time filter to confirm validity. The breakout should occur with an expansion in volume, especially on upside breakouts."

- stockcharts.com/school/doku.php?id=chart_school:chart_analysis:chart_patterns:symmetrical_triangle_continuation

17. Mai 2017

Anmerkung

Still waiting for breakup (or -down) confirmation (~ 3% price break).

Stoploss if breakup:


Mirror it if breakdown.

17. Mai 2017

Anmerkung

Obvious breakup. Lets see how it goes :)

17. Mai 2017

Anmerkung

"Return to Apex: After the breakout (up or down), the apex can turn into future support or resistance. The price sometimes returns to the apex or a support/resistance level around the breakout before resuming in the direction of the breakout."

This should be a good opportunity to hop onto the train in case u missed it :)

18. Mai 2017

Anmerkung

Just interesting to see that a breakout can also have a symmetrical triangle again and breakout again!

18. Mai 2017

Anmerkung

Be aware of profit-takers at ATH resistance.



Someone recommended to sell and wait till the storm is over and we pass it to go long again. I personally want to stick to my initial plan.

22. Mai 2017

Trade geschlossen: Ziel wurde erreicht

I hope you guys had a great time as well. Take your profits and feel good no matter if it goes up or down afterwards. :)