Daily/4H/1H/30mins timeframe (select only 1)
 Clear market structure of the triangle with 5 touches (✓)
 Identify key levels for break out (✓)
 Stop order at the break of identified key levels in the direction of prior impulse, opposite direction for a reversal or both (✓)
Additional confluences: Support or Resistance where the triangle is placed, longer term trend, conditions on higher timeframe or Bollinger Bands (BB20).
1% capital risked for potentially 2.3R
Open: 137 | Stop loss: 141 (-400 points) | Take Profit: 127.5 (+950 points)
Remarks: Pending order has been placed for a long time for this. Market’s uncertain, so am I. Anticipating a massive break, either side. Not sure which way therefore both stop buy and sell orders placed.
At entry, stop loss placed under/above a prominent key level that made up the triangle. Depends on the market structure and size of triangle.
Take profit at the next nearest key level on the same timeframe.
After break out or next swing L/H established, shift stop to break even.
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
Remarks: Buy order also cancelled. Will be looking for a continuation pattern of some sort to enter into the break out.