Break out of the last triangle in ETH can be retraced

Jun 3, 2016

It is often after the break out of triangle that the price will come back closely to the origin of the breakout.
Besides, the whole structure looks like double correction.
a-b-c, triangle and once again a-b-c

SL 0.02340
TP 0.02550

Jun 4, 2016

Note

Technically the trade is stopped-out as my defined SL was a bit to tight.

The price should, however, come to the initially targeted level

Jun 8, 2016

Trade closed: target reached

As mentioned in the previous comment, we are now where ETHBTC should be, namely at the initial point of break-out from trangle.

Can't say that the trade was perfectly setup, as the initial SL was a bit too tight.

But the rule of "it is more often then not that the breakout of triangle will be retraced back close to the origin of break-out" was yet again confirmed.