CADCHF Symetrical Triangle

25 mar 2020

CADCHF forming a simetrical triangle in 4H.

• Symetrical triangle created after a downtrend followed by a consolidation zone.
  Re-test done in the upper trendline with a bearish candle.
  We are in a downtrend, so look for downtrend breakouts. In this trade we go for the retest in the down trendline, not for the breakout.
  SL in the last high
  TP2 in a prior resistance zone
  TP1 is 50% movement to TP2. Once TP1 is reached, we move SL to 40% movement for a 40% gain.
  We will follow the trade and if momentum is strong reaching TP2, we can extend TP2 looking for a triangle breakout.
  

26 mar 2020

Trade chiuso: stop raggiunto

Trade hit SL. Have to trade patterns once a breakout is made, not trying to follow the moves inside them. Won't do it again