Ascending triangle with 5 hit points, so I am waiting for a break out at the 6th, 7th or 8th.
Ascending triangles are bullish, but the very good previous structure on both sides suggests to me that it could break out either way, so I will be open to trading either break (looking for a close outside of the triangle).
Profit targets are obviously at the previous structure as indicated by the horizontal black lines.
Good trade. I always get burned trading triangles for some reason.
olly_price
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Thanks a lot man! Check out my previous ones on my account (there's about 6 or 7), I usually get really good results from the way I trade them, are there any significant differences to the way you trade them? Make sure you always look for good previous structure and at least 5 hit points (I have found this works best for me). Also, regarding this trade, there is a good chance it could reach around 1.418 based on that big structure low on the left. (However I won't make this trade because you shouldn't really trade ascending triangles bearishly as it is haha.)
davidb789
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No significant difference. Triangles just dont like me. If I would have shorted that trade Im telling you dude. It would have broke to the down side, immediately reversed for a retest, broke through and shot to the moon. Sooo...your welcome. lol
olly_price
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Haha, maybe I'm having a lucky streak and will soon get 7 bad losers in a row.