Hello everyone!
Compound is traded inside a symmetrical triangle, the projection on the chart is theoretical based on the price action.
There are two points where I suggest to close long positions, 1 - based on the flag pattern, 2 - based on the triangle pattern.
You can partially close position at 1 and wait for 2, up to you.
The best point to keep in mind in all chart pattern trades is wait for a breakout, the best of the best is wait for a breakout and retest, so wait for a signal and perform the necessary trade.
Compound is traded inside a symmetrical triangle, the projection on the chart is theoretical based on the price action.
There are two points where I suggest to close long positions, 1 - based on the flag pattern, 2 - based on the triangle pattern.
You can partially close position at 1 and wait for 2, up to you.
The best point to keep in mind in all chart pattern trades is wait for a breakout, the best of the best is wait for a breakout and retest, so wait for a signal and perform the necessary trade.
Trade active
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.
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.