I mainly trade symmetrical triangle breakouts, focusing on finding the setups with the best risk-to-reward (R/R) potential.
SM
This is an oil play, so the breakout and its strength will depend heavily on how oil performs this week. With no resolution to the conflict in the Middle East in sight, I see little reason for oil prices to drop significantly in the near term.
Also, watch the 4H RSI, which is consolidating in a triangle of its own. A breakout in the RSI would add further confirmation that the price breakout is successful.
DBX
This was on last week’s watchlist and is currently holding successfully above the very important breakout level while basing around this area. Basing around the breakout level is a very good sign that the stock is likely to continue higher.
SPOT
Spotify has been consolidating in this triangle since March. The breakout confirmation level is $534, but I’m planning to get in earlier. The blue moving average is the 200-day MA, and if the price can close the trading day above it, I’ll look to take a partial position and add more on a breakout above $534.
APO
I entered this position last Thursday after the price broke above the breakout confirmation level. Since then, it’s been consolidating right around the breakout area, which is exactly the kind of price action I like to see after a breakout. My stop-loss here is $134.80.
SMThis is an oil play, so the breakout and its strength will depend heavily on how oil performs this week. With no resolution to the conflict in the Middle East in sight, I see little reason for oil prices to drop significantly in the near term.
Also, watch the 4H RSI, which is consolidating in a triangle of its own. A breakout in the RSI would add further confirmation that the price breakout is successful.
DBXThis was on last week’s watchlist and is currently holding successfully above the very important breakout level while basing around this area. Basing around the breakout level is a very good sign that the stock is likely to continue higher.
SPOTSpotify has been consolidating in this triangle since March. The breakout confirmation level is $534, but I’m planning to get in earlier. The blue moving average is the 200-day MA, and if the price can close the trading day above it, I’ll look to take a partial position and add more on a breakout above $534.
APOI entered this position last Thursday after the price broke above the breakout confirmation level. Since then, it’s been consolidating right around the breakout area, which is exactly the kind of price action I like to see after a breakout. My stop-loss here is $134.80.
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Thông báo miễn trừ trách nhiệm
Thông tin và các ấn phẩm này không nhằm mục đích, và không cấu thành, lời khuyên hoặc khuyến nghị về tài chính, đầu tư, giao dịch hay các loại khác do TradingView cung cấp hoặc xác nhận. Đọc thêm tại Điều khoản Sử dụng.