Trade Breakdown: A Lesson in Patience with BNB

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Sharing our trades, both wins and losses, is how we grow as a community. Here is a breakdown of a recent trading operation I planned.

I was observing the BNB/USDT chart and noticed it was forming an ascending triangle pattern, which is often a bullish sign. My plan was to enter a long position if the price broke out decisively above the horizontal resistance of the triangle.

Entry: I set a buy-stop order slightly above the resistance line to catch the momentum of the breakout.

Stop-Loss: My stop-loss was placed inside the triangle, just below the last swing low. This ensured that if the breakout was fake, my loss would be contained.

Take-Profit: My target was calculated based on the height of the triangle, projected upward from the breakout point.

Initially, the price teased a breakout but didn't have enough volume, so my order didn't trigger. I stuck to my plan and didn't chase the price. Later, the real breakout happened. This operation was a great lesson in the importance of having a precise entry trigger and not letting FOMO (Fear Of Missing Out) dictate your actions.

#TradingJournal #BNB #ChartPatterns

(Disclaimer: This is a trading example and not financial advice. All trading involves risk.)