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Symmetrical Broadening Bottom

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FX:AUDUSD   Australian Dollar/U.S. Dollar
57 1 2
Self education

The classic strategy (1):
Entry: Take a long position at the breakout of the resistance starting from the fifth rotation and if the price is on the higher third of its annual range
Stop: The stop is placed below the resistance
Target: Theoretical target of the pattern
Advantage: Strong probability to win
Disadvantage: Bearish breakouts have more potential than bullish breakouts

The classic strategy (2):
Entry: Take a short position at the breakout of the support starting from the fifth rotation and if the price is on the lowest third of its annual range
Stop: The stop is placed above the support
Target: Theoretical target of the pattern
Advantage: Strong probability to win
Disadvantage: -

The aggressive strategy :
Entry: Take a long position at the contact with the support and a short position at the contact with the resistance
Stop: The stop is placed below/above the last lowest/highest
Target: Opposite band of the triangle
Advantage: It could have many rotations
Disadvantage: At its beginning, the pattern is hard to see

F
2 years ago
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