How to trade a "Flat Top" Breakout - VEN/BTC Trade Example

BINANCE:VENBTC   VeChain / Bitcoin
There are many ways to trade a breakout and a good one to trade during a bull market is the Flat Top Breakout.

What is a Flat Top?
A Flat Top occurs when there is a clear resistance level (flat top) and a slope of higher lows, indicating the upward trend:

As you can see in the chart above, the pattern looks like a triangle with the top of the triangle being the horizontal resistance and the bottom is the upward sloping support trend line . That's why this pattern can also be referred to as the ascending triangle .

How to trade the Flat Top Breakout?

Entry Point:
Enter after the resistance level , the "flat top" has just been broken with increasing volume .

Stop Loss:
Place your stop loss just below the recent swing low.

Profit Target:
Use the height of the flat top/triangle to determine your profit target or objective.

In summary, the flat top breakout is a pattern that is fairly easy to identify and provide a good risk to reward trading opportunity.

Using the information covered in this post will help you with a trading plan that, when executed properly, can offer good profits, manageable risk and a higher probability of success.

If you found this post informative and helpful, please give a like and or share. Leave a comment if you have any questions.

And until next time, good luck with your trading!

Thank you for explaining! Always cool to learn more about TA, especially in crypto :-)
@bgooren, Thanks for your comment and glad you found it helpful.
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