Short
Contracting descending triangle
Updated
Hi folks! So I was looking for a long on Natural gas with an entry around 2.530.
Then I realized the possibility of a descending triangle. Often, these are continuation patterns but sometimes they can be part of a trend reversal.
My strategy:
Enter now with a tight stoploss around 10 points above the trendline and take profit at 2.535 and than grab a long until (E) and than do the same thing short with a tp at 2.429 whereas I'm looking for a long position.
Then I realized the possibility of a descending triangle. Often, these are continuation patterns but sometimes they can be part of a trend reversal.
My strategy:
Enter now with a tight stoploss around 10 points above the trendline and take profit at 2.535 and than grab a long until (E) and than do the same thing short with a tp at 2.429 whereas I'm looking for a long position.
Note
Stoploss hit, it broke the top and its no longer valid. Looking for entries to go long :)
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