Ascending triangle on HUDCO
HUDCO formed an ascending triangle pattern on daily chart. With multiple support and resistance level tested. Price has been consolidating for some time now. Price broke out of resistance today with high volume indicating bulls are out there to drive the price higher. However, wait for the next candle to close above breakout candle high. This would give us some confirmation the momentum is still out there. Stop loss can be held just below the low of breakout candle with target the broader width of triangle. Easy 1:2 risk reward trade.
Hope you like this idea, if so please boost this idea or leave a comment below on what you think. I'll be glad to hear from you. Otherwise happy trading :-).
Hope you like this idea, if so please boost this idea or leave a comment below on what you think. I'll be glad to hear from you. Otherwise happy trading :-).
"It's not whether you're right or wrong that's important, but how much money you make when you're right and how much you lose when you're wrong." — George Soros
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