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Forex chart technical analysis 7-Triangle

Symmetrical Triangle (SymmetricalTriangle) 100%cashbackforex also known as equilateral triangle, in general, the symmetrical triangle is a finishing pattern, forexcashbackeasy is, the forex cashback easy will continue to move the original trend It is composed of a series of price changes, the magnitude of change gradually reduced, that is, each change in the highest price, lo cashback forexr than the level of the previous, cashbackforex the lowest price than the level of the previous minimum, in a compression pattern and finally converge at a point in the formation process of the market price highs are constantly depressed, while the lows are constantly raised. It is composed of a series of price movements, the range of movement is gradually reduced, that is, the highest price of each movement, lower than the previous level, and the lowest price is higher than the previous lowest price level, in a compression pattern, and finally meet at a point in the formation process, the market price highs are constantly depressed, while the lows are constantly raised This means that buyers and sellers are not able to push the price to run in a clear direction This is a battle between buyers and sellers, so the market appears to pull the market symmetrical triangle is also a finishing pattern ( Forex Academy As shown in the chart above, we can see that both buyers and sellers are unable to push the price in the direction they would like to see fluctuate When this occurs, the exchange rate will appear to be constantly depressed highs and constantly elevated lows As the upward sloping cashbackforexpips and downward sloping lines gradually gather towards a point, the This means that the market breakout is getting closer and closer We do not know the direction of the breakout, but we do know that the market is very likely to open a breakout eventually, buyers and sellers, one side will eventually surrender So, how do we use this graphical trend to trade? Simple we can set a stopentry order above the downward sloping line and below the downward sloping line (stopentryorder) Given that we already know that the exchange rate is about to break out of the pattern, we just need to follow the direction of the exchange rate to take a ride in this example, if we set a stopentry order above the downward sloping line, we may have obtained a more desirable return if you set a stopentry order below the upward sloping line If you set up a self-setting stop-loss order, as long as the first order has been executed, you can choose to cancel this order ascending triangle ascending triangle consists of a resistance line and the low is rising upward sloping line composed of this time, the buyers have always had difficulty pushing the price to break through the resistance level, however, they are gradually pushing the price higher, in the form of a gradually rising low upward sloping line as shown in the chart above, you can see that the buyers are beginning to accumulate As they push the price lows higher and higher they keep pressuring the resistance levels and as a result, the breakout is just around the corner. Are the buyers strong enough to push the price through the resistance line, or will the resistance line be strong enough? From past patterns, most of the time, it is the buyers who win the battle and the price will break through the resistance line. However, from our past experience, this is not always the case. Sometimes the resistance line is too strong and the buyers do not have enough energy to push the price through the resistance line. You should be prepared for the price to move in either of two directions. In this case, we will set a stop-loss order above the resistance line and below the upward sloping line. If we set up short orders below the upper tilt line, we may realize some profit in the decline of the exchange rate falling triangle You are probably thinking that the falling triangle pattern corresponds to the rising triangle pattern (we know you are all very smart!) In a descending triangle pattern, a series of constantly depressed highs form the upper diagonal line of the pattern The upper diagonal line plays the role of a resistance line here, and it is difficult for the price to break through the resistance of the upper diagonal line As you can see in the chart above, the price shows a trend of constantly depressed highs, which tells you that the sellers are gradually gaining the upper hand in the game with the buyers in the vast majority of cases, and please note that we are talking about the vast majority of cases. However, in some cases, the support line will be strong enough that the exchange rate will be supported at that line and then rebound strongly and eventually move higher. The good news is that we dont really care which way the price is going to go, we just know that the price will move in a certain direction. In this case, the price finally broke through the resistance of the downward sloping line after the upside breakout, the exchange rate saw a rapid upward trend, and the rise was almost equal to the height of the descending triangle pattern If we set a stop-loss order above the downward sloping line and target the same level as the height of the triangle pattern, we will get a good return