My Small Buy @ 22.26 - Guts testing, follow the signal, maybe right or wrong.
23 Jun 21 - Bag Holding
- Bag Holding. Efforts of the sellers (a high red volume on the delta) do not produce a significant result in the price reduction (a narrow spread on the down bar).
01 Jul 21 - Down Setup
The descending triangle at its decision point. Either it break down or up. Smart monies like to keep technical traders in suspend.
The descending triangle pattern can be a great indicator of trend continuation, but it does have its limitations too:
| ADVANTAGES | |
|---|---|
| Easy pattern to identify | |
| The descending triangle produces a clear target level – based on the max height of the descending triangle | |
| LIMITATIONS False breakouts are possible (traders need to manage risk accordingly) There is always a chance that price moves sideways for an extended period of time or even moves higher Since this is an intermediate-term pattern, traders have the option to trade within the triangle but should filter trades in the direction of the trend |
Rule number 1: Always put a stop loss before entry, always, no exception. You do not drive a car if it does not have brakes. Have a stop loss first, then think about entry, end of conversation.
Rule number 2:: No Rule number 2, strictly master Rule Number 1 and you are likely to succeed in Technical Trading.
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