$F - Textbook Descending Triangle Pattern - Update

You gotta love it. Weak hands being squeezed away from this market throughout the last year. Volatility steadily diminishing until it was longer there for the past 2 months.

This week, we've witnessed a proud bullish candle erupting out of the stillness implanted in this market and breaking out a completed descending triangle pattern.

Take profit in the highlighted supply area. Stop loss below the key EMAs with sufficient buffer for the trade to develop. Position size wise, risk no more than 1% of trading capital in any given trade as a rule of thumb.

Cheers,
Tenacious Tribe - Backtested, Quantified Trading Strategies