Guid Lines For Trading Symmetrical Triangles

Discussion in 'General Trading Discussion' started by best forex, Oct 24, 2018.

  1. best forex

    best forex Member

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    Guid lines for trading Symmetrical Triangles


    Generate best forex signals by using Symmetrical Triangles

    Two sloping and converging trendlines Price follows two sloping trendlines that join at the triangle apex


    Price crossing Price must cross the pattern from side to side, filling the triangle with movement. Avoid patterns with excessive white space in the center of the triangle


    A symmetrical triangle appears like an angel fish bounded by two converging trendlines. The breakout can be in any direction.

    Breakout Can be in any direction.


    Duration Should be longer than three weeks; otherwise they could be pennants.


    Symmetrical triangles should be at least three weeks long; otherwise they are pennants. Pennants always rest upon a flagpole (a straight-line price run), so if the pole is missing, the pattern is a symmetrical triangle.


    Confirm Price confirms many patterns when the pair closes outside the pattern boundaries. For example, in a double bottom, price must close above the highest peak between the two bottoms; otherwise, it is not a double bottom.


    To avoid selecting bogus symmetrical triangles, look for at least three touches of each trendline

    when to place fx trading signals

    Trade with trend As consolidations, prices usually leave the triangle in the same

    direction as when they enter.


    Measure rule

    Compute the formation height by subtracting the lowest low from the highest high. For upward breakouts, add the difference to the highest high or for downward breakouts, subtract the difference. Alternatively, symmetrical triangles can be halfway points in a move, so project accordingly.
     
  2. fxstreet

    fxstreet Senior Investor

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    Nice and useful information here, thanks for this thread. Can be really helpful man.
     
  3. Duong

    Duong Senior Investor

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    Is your Forex signal service available on Mt4 platform? I trade with Forexchief broker. What margin do I need to use your signal services.
     
    Last edited: Mar 27, 2019

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