FALLING WEDGE REVERSAL
Daily/4H/1H/30mins timeframe (select only 1)
 Plot out linear resisting and supporting trend lines that form the wedge (✓)
 Clear market structure of the wedge with 5 touches (✓)
 Identify squeeze – low volatility (✓)
 Stop order for a break out (✓)
Additional confluence: Support/Resistance on higher timeframe, Candlestick Patterns or Elliot Waves
1% capital risked for potentially 2R
Open: 1.4035 | Stop loss: 1.3895 (-140 points) | Take Profit: 1.4315 (+280 points)
Remarks: 2nd trade running on this pair after T11
At entry, stop loss placed under/above the swing point which is anticipated to be the lowest/highest.
Take profit placed at the next key support or resistance level.
Extra: Risk halved as price approaches the resisting trend line.
If breakout from the wedge, shift stop to breakeven.
At 80% of take profit, shift stop to 50% mark or below/above swing L/H.
If price breaks and closes under/above the 30SMA, tighten stop loss and prepare for manual exit.
 Initial stop loss
 Trailing stop, as mentioned under management
 Manual exit due to change of momentum and break of market structure
 Take profit