bogd

Clear Triangle Pattern, with great Risk/Reward ratio

FX_IDC:GBPEUR   British Pound / Euro
On the graph, there is the triangle pattern, one of the most wide known phenomenon in forex trading, which makes it one of the most reliable strategy as well: waiting for the break through and opening position in the appropriate direction of the breakthrough.

Good risk reward ratio:
  • If Long then we can put stop loss at around 1.1659 and take profit at 1.2338 --> R/R ratio of roughly 2.5
  • if Short then we can put stop loss at around 1.2055 and TP at 1.1198
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