Short - Peannunt triangle within a bigger symmetrical triangle
So far so good:
We went below 11296 which triggered my next short (the last one was closed in profit)..
also I will enter a second position at 11050..
sl for both positions: 11500.
tps for both positions: 10300, 9450, 8450 (and I will leave some for if we go lower..)
My expectations:
- We are in another small peannunt triangle withing a bigger symmetrical triangle, which means:
1. If we break the peannunt above 11470 we will continue side ways withing the symmetrical triangle, thus my sl atm is 11500 (leaving space for if its a fake breakout)..
2. If we break bellow the peannunt I assume it will be strong enought to break the symmetrical as well which means both together will have a very strong impact to break the 10950-11200 strong support zone, which means we are going to see a retest of 10140...
3. Breaking below (red arrows) with confirmation of volume buying power will result retesting the 9200 area, I think if hit that spot again, most likely we gonna break downwards, but again this needs confirmations, lets pass scenario 1 and 2 first ;)...
We went below 11296 which triggered my next short (the last one was closed in profit)..
also I will enter a second position at 11050..
sl for both positions: 11500.
tps for both positions: 10300, 9450, 8450 (and I will leave some for if we go lower..)
My expectations:
- We are in another small peannunt triangle withing a bigger symmetrical triangle, which means:
1. If we break the peannunt above 11470 we will continue side ways withing the symmetrical triangle, thus my sl atm is 11500 (leaving space for if its a fake breakout)..
2. If we break bellow the peannunt I assume it will be strong enought to break the symmetrical as well which means both together will have a very strong impact to break the 10950-11200 strong support zone, which means we are going to see a retest of 10140...
3. Breaking below (red arrows) with confirmation of volume buying power will result retesting the 9200 area, I think if hit that spot again, most likely we gonna break downwards, but again this needs confirmations, lets pass scenario 1 and 2 first ;)...
Operación cerrada: precio stop alcanzado:
As suspected we broke the pennant with enough power to break the symmetrical which drove to break even the strong support zone at 10950-11200, and retested the 10140, and even continued to dive towards 2 of my TPs at 10300,9450... this is the conclusion of both of my shorts:
1. The 'short' 11296 and the 11050:
- We took profits: 15% at 10400-10700, and another 15% at 10950-11010, 10% at 10260-10427.
- We moved SL to profits zone at 10560 (Which took rest of the 50% that were left, into profits)
* Conclusion: We manage to close both signals with 50% profits, and were stopped at profits levels with the other 50%.
1. The 'short' 11296 and the 11050:
- We took profits: 15% at 10400-10700, and another 15% at 10950-11010, 10% at 10260-10427.
- We moved SL to profits zone at 10560 (Which took rest of the 50% that were left, into profits)
* Conclusion: We manage to close both signals with 50% profits, and were stopped at profits levels with the other 50%.