We have identified a triangle in
USDTRY
that is meeting all criteria:
Shape:Triangular. Prices move between two converging trendlines.
Trendlines: Two trendlines bound prices; the bottom trendline slopes up and the top one slopes down.
Crossing: Price must cross the pattern from side to side, filling the triangle with price movement, not white space.
Touches: Price must touch one trendline at least three times and the other trendline at least twice, forming distinct valleys and peaks.
Trading tips:
Compute the height from the highest swing to the lowest swing in the pattern. Add it (upward breakouts) or subtract it (downward breakouts) from the breakout. The breakout starts with strong price action.
Usually, pullback leads to a losing trade.
USDTRY
that is meeting all criteria: Shape:Triangular. Prices move between two converging trendlines.
Trendlines: Two trendlines bound prices; the bottom trendline slopes up and the top one slopes down.
Crossing: Price must cross the pattern from side to side, filling the triangle with price movement, not white space.
Touches: Price must touch one trendline at least three times and the other trendline at least twice, forming distinct valleys and peaks.
Trading tips:
Compute the height from the highest swing to the lowest swing in the pattern. Add it (upward breakouts) or subtract it (downward breakouts) from the breakout. The breakout starts with strong price action.
Usually, pullback leads to a losing trade.
Trade active:
Downside let see
Comment:
I hedge the trade now I am on the long side
Comment:
This trade will take for ever!!!!
Trade closed: target reached:
Made a little but no loss
