FX:GBPUSD   British Pound / U.S. Dollar
38 0 0
for self education

The classic strategy :
Entry: Take a long position at the breakout of the neckline
Stop: The stop is placed below the neckline
Target: Theoretical target of the pattern
Advantage: A lot of lows are made during the upward movement leading to the neckline so it's easy to set your stop
Disadvantage: Due to an accumulation zone shaping below the neckline, the breakout can be violent and so a large part of the movement could be lost.

The agressive strategy :
Entry: Take a long position at the breakout the bearish slant (example above)
Stop: The stop is placed below the last lowest
Target: Return on the neckline
Advantage: The ratio profit/risk is high because the stop is close
Disadvantage: The pattern is not yet confirmed and so the percentage of a losing trade is higher

Related Ideas

English
English (UK)
English (IN)
Deutsch
Français
Español
Italiano
Polski
Türkçe
Русский
Português
Bahasa Indonesia
Bahasa Melayu
ภาษาไทย
Tiếng Việt
日本語
한국어
简体中文
繁體中文
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out