Trade Result: CWC – Ascending Triangle

Ascending Triangle

I’ll confess i didn’t actually post this as a Trade Idea at the time but i was pretty chuffed with this trade i took so thought i’d share.

The Ascending Triangle forming on CWC in January was pretty clear. I entered at 50p anticipating the breakout and targeted the resistance level at 55p which was hit in just a few days post entry. In retrospect i could/should have targeted the resistance level at 57p, but 55p was the safer target and hindsight is a wonderful thing, plus this trade still netted 10% in under 10 days!

 

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