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Guidelines for trading by Ascending Triangles


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Guest best forex

 

Guidelines for trading by Ascending Triangles

  • Ascending triangles are wedge-shaped patterns that break out most often upward. The triangle can act as a reversal or continuation of the existing price trend.
  • Horizontal top line Price along the top follows a horizontal trend
  • Up-sloping bottom line Price makes a series of higher valleys, following a trendline. The two trendlines converge
  • Price crossing Price must cross the pattern from side to side, filling the triangle with movement. Avoid patterns with excessive white space in the center of the triangle
  • Breakout Can be in any direction, but is upward the majority of the time.
  • When searching for ascending triangles, make sure price crosses the chart pattern from side to side several times. Price should not be bunched up near the start nor near the end with an empty white hole in the middle
  • An ascending triangle forms because of increasing demand at lower prices matched with selling at a constant price.
  • The breakout from an ascending triangle is upward 64 percent of the time based on research completed in 2011 using over 1,600 ascending triangles in both bull and bear markets.
  • The apex of a triangle is where price tends to form a short-term peak or valley.

 

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