15-minutes: Reference to watchlist post.
Price broke out of triangle consolidation and formed a flag pattern correction which entered into the 2575 TAZ.
Triangle Range ››› Crossover ››› Breakout ADX>25 ››› Pullback ››› Entry
0.5% capital risked for potentially 2R.
Entry: 1.42035 | Manual stop loss: Close below 1.419 | Automated stop loss incl. volatility: 1.4175 | Target Profit: 1.424
Psychology and emotions – Neutral. Set-up ticked the criteria of the strategy with the added triangle and flag.
Automated stop loss shifted up to 1.419, halving the initial risk.
Stop loss shifted to breakeven. Price has left the TAZ and went out of the flag pattern.
Update: Extend and double one line and an upward channel could be more plausible. In which case, the stop shifted earlier to breakeven would be too early. But rules are rules, no shifting of stop loss away from market price.
Trailing stop triggered. If according to update above, stopped moved too early as the channel is still intact. But that wasn’t the original idea. Higher timeframe (4H) still not in an uptrend, just a range. Followed the plan, broke even.