Triangle breakout
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.
AC line will act as resistance line.
BD 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.
AC line will act as resistance line.
BD 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.
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