Symmetrical Triangle on NZD/JPY @ H4

21 sty

As you can see, the long-term upward trend in NZD/JPY has consolidated into a symmetrical triangle pattern on the H4 chart. I will use this formation for a trend-continuation breakout setup. My potential entry is marked with the cyan line, which is located at 10% of the triangle's base width above the upper border. My take-profit will be at the green line, which is located at 100% of the triangle's base width above the upper border. I will set my stop-loss to the triangle's lower point (90.348). I will ignore downside breakouts from this trend-continuation pattern.

22 sty

Zlecenie aktywne

Long position entered yesterday at 22:16 UTC with open price at 90.682, SL at 90.133, and TP at 91.204.

23 sty

Transakcja zakończona: osiągnięto poziom stop

SL hit yesterday at 18:29 UTC.