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UDATE on Triangle Pattern From Feb3Hello Traders Here IS The Triangle Pattern From FEB 3 That Has Indeed Formed. IF You Took The Buy From The Last Data Point Of The Triangle Before The Break You Would Have Caught bout 150 PIPS OFF That Trade. Currently Price Is Testing Off The Completed Triangle So BUY! BUY! BUY! You Can Set Your TP At The Original TP Or You Can Hold From The Break/Retest To However Many Pips There Are From The Top Of The Triangle To The Bottom Of The Triangle ( This Is Around Where The Breakout Will complete Its Self. Just observe its movement overtime to see this play out.This is how patterns work). If YOU ENJOYED THE PATTERN AND TO SEE IT PLAY OUT PLEASE LET ME KNOW IN YOUR THOUGHTS IN THE COMMENTS AND LIKE AND FOLLOW IF YOU DONT MIND :) ENJOY!
Long
by BeautifulTiger
Clear Triangle Pattern, with great Risk/Reward ratioOn 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
by bogd