Triangle Breakout!!
Updated
TRADING PSYCHOLOGY : The stock forms a triangle pattern when the tug of war between BULLS and BEARS is at the end stage where one is bound to give up.
BD line will act as resistance line.
AC line will act as support line.
when to trade : The candlestick has to break the support/resistance line with increasing volume to confirm the direction.
STOP LOSS: If the breakout is upwards then support line will act as stop loss.
If the breakout is downwards then resistance will act as stop loss.
PS : This is 15 minute candlestick chart so the targets are most likely to achieve in 1-2 days.
The accuracy of this strategy is 80%.
BD line will act as resistance line.
AC line will act as support line.
when to trade : The candlestick has to break the support/resistance line with increasing volume to confirm the direction.
STOP LOSS: If the breakout is upwards then support line will act as stop loss.
If the breakout is downwards then resistance will act as stop loss.
PS : This is 15 minute candlestick chart so the targets are most likely to achieve in 1-2 days.
The accuracy of this strategy is 80%.
Trade closed: target reached
Downside breakout happened.Touched our target 80 before it went upTrade closed: target reached
82 not 80
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