It was formed simetrical trigle. I found this blog mentioned from Thomas Bulkoski book symmetrical trialgle has a failure rate of less than 5% after breakout.

What do you think guys?

Hi Richtan,

I'm still learning the market and the lingo....why did u said is a buy-up? when it was stated "S" (Sell)....

 

   

  Patience has its virtues. 

Congrats especially to those who followed my past postings and chart analysis and dared to buy when it

presents many good opportunities when it bounced off the 15ema and 25ema

My advice is not to be too eager-beaver to take short profits and remember the 3rd golden mantra:

3) Cut losses short n let profit runs with trailing stops, we need to let profit runs as much as it can to cover all the losses made n yet make net gains. When we hit the cut-loss, never be emotional, be mechanical, immediately exit n never regret even if later it goes up bcos if dun cut, wat if it continues to go down, preserving ammunition to fight another day is the key. We can always re-enter if there is another buy sign candles, even if buying at a higher price.

I have moved up my stop (trailing stops) to today's low at 0.705, ie if Mon it closes below today's EOD, the next day (Tues), I will exit for sure, if it later goes up again, so be it.

The above is just my opinion, so dyodd n BOSAYOR.

It may or may not consolidate b4 the next charge up but in case it did not charge up, set your stop-loss and exit the next day based on EOD data.

Above is just my exit strategy, so dyodd n BOSAYOR

Ooops, so sorry, forgot to revise my stop-loss in earlier post after Wed big run-up.

My exit point agrees with Kim Eng as I set it at half of Wed high-low range, ie if it close below half the range.