stephenleachman
Education

SYMMETRICAL TRIANGLE (TREND CONTINUATION)

FX:CADJPY   Canadian Dollar/Japanese Yen
139 1 17
The symmetrical triangle is a trend continuation pattern. this pattern starts out with
an impulse move followed by a period of consolidation. The consolidation forms lower
highs and higher lows forming the sideways triangle. once price starts to squeezes together
the momentum buildup usually shouts price back into the direction of the trend, The first
Impulse move. Usually you can expect to see after a breakout price to move the distance
of the mouth of the triangle.

Conventional way to trade a bullish Symmetrical Triangle pattern:

snapshot

-----Breakout-----
(1) Wait for a clear Symmetrical Triangle to form.
(2) Buy a break of previous high.
(3) Stop below the previous Low.
(4) Target Is the Distance Between The Mouth Of The Triangle Added To The Breakout.

-----PullBack-----
(1) Wait for a clear Symmetrical Triangle to form.
(2) Wait for price to break and close above previous high.
(3) Buy pullback at point of triangle.
(4) Stop below the previous Low.
(5) Target Is the Distance Between The Mouth Of The Triangle Added To The Breakout.

Conventional way to trade a Bearish Symmetrical Triangle pattern:

snapshot

-----Breakout-----
(1) Wait for a clear Symmetrical triangle to form.
(2) Sell when price breaks the previous low.
(3) Stop Abouve the previous High.
(4) Target Is the Distance Between The Mouth Of The Triangle Added To The Breakout.

-----PullBack-----
(1) Wait for a clear Symmetrical triangle to form.
(2) Wait for price to break and close below previous low.
(3) Sell pullback at point of triangle .
(4) Stop Abouve the previous High.
(5) Target Is the Distance Between The Mouth Of The Triangle Added To The Breakout.
Comment: 5 Min USD/JPY Example Of A Symmetrical Triangl (Intraday Day Trade)
snapshot
thank u for sharing your idea sir
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