Thanks very much for the time and effort. I appreciate the chart and links.
Unfortunately, I find this one part of your comment confusing. Are you saying that if the breakout was bought at around 80 1/8, you set a sell stop below a break of 79 1/4? Or are you saying you would SAR on the break with a cover target for the short of the bottom of the triangle? Or, are you saying, don't buy the breakout at all?
Intraday, has formed a triangle here, on this marginal new high, but it was a fakeout. In this case, seeing there is an
inside ("hesitation") bar after the "breakout" bar, you can set a sell stop/protective stop loss on break of $79 1/4,
with a target of violating the lower boundary of the triangle, along with the 20-period EMA in this timeframe. I use
the 65M chart, since I like my bars to be divisible into the length of the trading day.
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