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How to Trade Symmetrical Triangles like a Pro 💡
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The triangle is a very neat pattern, combining price and time in a close relationship. The trendlines which give the price boundaries of the pattern also serve to limit the timescale.
The triangle pattern will be completed and the signal given when the price breaks out and closes outside the triangle. Usually this will be in the original direction. You can apply the same criteria to this as to any penetration of a line, which is that an intraday penetration is not usually significant if the price returns, and some people like to see the price stay outside the line for two days. The penetrated line may become a support or resistance subsequently, and the apex level can also be an important support or resistance price level in future movement.
✅ Our channel sponsor for this month are Trade Nation meaning these guys are covering our costs of operation. We only accept reputable and properly regulated providers as sponsors. Please support us by trading with this provider. Trade Nation offer the popular MT4 platform as well as an easy-to-use web trading platform with fixed spreads.
📜 Disclaimer 📜
81.7% of retail investors lose money when trading CFDs and spread betting with this provider. You should consider whether you understand how spread bets and CFDs work, and whether you can afford to take the high risk of losing your money.
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The triangle is a very neat pattern, combining price and time in a close relationship. The trendlines which give the price boundaries of the pattern also serve to limit the timescale.
The triangle pattern will be completed and the signal given when the price breaks out and closes outside the triangle. Usually this will be in the original direction. You can apply the same criteria to this as to any penetration of a line, which is that an intraday penetration is not usually significant if the price returns, and some people like to see the price stay outside the line for two days. The penetrated line may become a support or resistance subsequently, and the apex level can also be an important support or resistance price level in future movement.
✅ Our channel sponsor for this month are Trade Nation meaning these guys are covering our costs of operation. We only accept reputable and properly regulated providers as sponsors. Please support us by trading with this provider. Trade Nation offer the popular MT4 platform as well as an easy-to-use web trading platform with fixed spreads.
📜 Disclaimer 📜
81.7% of retail investors lose money when trading CFDs and spread betting with this provider. You should consider whether you understand how spread bets and CFDs work, and whether you can afford to take the high risk of losing your money.
Related Videos
4 Continuation Chart Patterns You Should Know
Trading the Rising and Falling Wedge Patterns
How to Trade the Descending or Falling Wedge 💡
How to Spot the Bull Flag Continuation Pattern 🏯
How to Trade a Bearish Flag Pattern like a Pro 👍
How to Trade Bullish Flag Patterns like a Pro
How to Trade the Ascending and Descending Triangle Chart Patterns
How to Trade Symmetrical Triangles like a Pro 💡
How the Pro's Trade Descending Triangle Chart Pattern 👍
Best Trend Trading Setups! Continuation Patterns Work Best in Trending Markets ✌
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