F

Descending Broadening Right Angle

F  
FX:USOIL   CFDs on Crude Oil (WTI)
43 0 0
Only for self study..

The Descending Broadening Right Angle is a bullish reversal pattern.
The classic strategy:
Entry: Take a long position at the breakout of the resistance
Stop: The stop is placed below the resistance line
Target: Theoretical target of the pattern
Advantage: The target of the pattern is often reached (90% of cases) and pullbacks are not frequent

The aggressive strategy :
Entry: Take a short(long) position at the third contact with the support
Stop: The stop is placed below the last lowest
Target: Opposite band of the triangle
Advantage: The amplitude of the movement will be important in case of rebound towards the opposite band.
The risk is low
Disadvantage: Downward breakouts occur in 33% of cases.

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