Im looking to buy this (maybe)ABCD flag formation if we can break above it. upside potential is huge up all the way to the solid blue line
Trade active
Comment:
i will take 1/3 off here and pull my stop tight below the consolidation. as the market moves im not too happy with it. we might see a bigger ABCD here(so a move down soon) that why im already taking a 1:1 winner here plus tighter stops. if we we break the lows i will have nearly no loss. i can always add to the position if we break the upper trendline anyway
Comment:
if you are trading it with stops below the lower blue dashed line, then you ofc dont have to worry about it
and if we still go higher from here, i will still have 2 position to look for good profits. plus (like i said) there are always chances to make the position bigger again
and if we still go higher from here, i will still have 2 position to look for good profits. plus (like i said) there are always chances to make the position bigger again
Comment:
stopped out for a small loss.
sidenote: my stop was always below the consolidation, and i cant widen my stop just because i expect a downward abcd. so i took my other option and protect myself as good as i can against a potential loss.
im still looking to reenter at a later point. setup is still valid and active after all. just no followthrough on the original breakout
sidenote: my stop was always below the consolidation, and i cant widen my stop just because i expect a downward abcd. so i took my other option and protect myself as good as i can against a potential loss.
im still looking to reenter at a later point. setup is still valid and active after all. just no followthrough on the original breakout