Triangle Breakout Buy Limit Strategy
If breakout candle is greater than 1 ATR
1 Buy 1/2 position size at breakout candle close @ .7075
2 Place 1/2 position size buy limit pending order just above 1 ATR level @ .7055
1st trade TP .7075 (entry price) + .0045 (atr) = .7120
2nd trade TP let run have SL follow price
SL you find
If breakout candle is greater than 1 ATR
1 Buy 1/2 position size at breakout candle close @ .7075
2 Place 1/2 position size buy limit pending order just above 1 ATR level @ .7055
1st trade TP .7075 (entry price) + .0045 (atr) = .7120
2nd trade TP let run have SL follow price
SL you find
Note
4H chart - 1st trade already entered - 2nd trade buy limit pullback hitNote
Triangle Breakout Buy Limit Order Take Profit setupNote
Failed breakout. Price returned back into triangle pattern.Close trade now, do not wait for price to hit SL
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.