Dell Technologies Inc - Symmetrical Triangle - Buy Opportunity

23 Şub

A symmetrical triangle was formed.

In a symmetrical triangle, the breakout direction usually follows the trend, in this is case it is an upward breakout. However, there's a high possibility that it breaks downward. Therefore, wait for the breakout to happen before trading the breakout. Alternatively, we can trade within the symmetrical triangle

Trading Strategy:

Option 1: Trade when the candle closes outside of the triangle.
Break upwards: Take profit at 200
Break downwards: Take profit at 40

Stop loss position: 6% from breakout price

Option 2:
Trade inside the symmetrical triangle, when the price hits the lower trend line.
Place a buy position with take profit when the price hits the upper trend line.
Stop loss position: 6% from the upper or lower trend line.

1 Mar

Not

Buy at the next market open since the price had reached the lower trend line.
As the market is on the downside these few days and we are going to have a buy position. To reduce risk, buy less.
Stop loss: If the price closed below the trend line.
Take profit: Touch or close to the upper trend line.

11 Mar

İşlem kapandı: durdurma seviyesi

Had opened the buy position at 102.97.
Closed the trade at 90.60 as the price had closed below the trend line.
Loss @ 12.2%. As the position was opened with relatively lesser funds as the market was on a selling pressure. Therefore loss was limited.