Price Action: How to trade symmetrical triangle chart pattern in binar...

  

BO Turbo Trader Price Action Guide for Binary Options Trader PDF https://goo.gl/VmcKjJ 👉 SMASH THE LIKE BUTTON 👈 👉 HIT THE SUBSCRIBE BUTTON 👈 👉 LEAVE A COMMENT 👈 Facebook-Group: https://www.facebook.com/groups/31949... Twitter: https://twitter.com/boturbotrader Binary Option Win Rate and Net Profit Calculator + Simulator https://goo.gl/NeUyCp Money Management Masaniello Program + Excel File https://goo.gl/9pNRhs Start Mining Cryptocurrency http://goo.gl/1mJLbU Risk Warning: Your invested capital may be at risk. This video is not an investment advice. Indicators: EMA 3 (blue) EMA 20 (yellow) EMA 50 (orange) EMA 100 (red) EMA 200 (purple) Bollinger Band Period 20 Deviation 2 (green) Bollinger Band Period 20 Deviation 1 (white) The trend should be at least a few months old and the symmetrical triangle marks a consolidation period before continuing after the breakout. In Technical Analysis of Stock Trends (1948), Edwards and Magee suggest that roughly 75% of symmetrical triangles are continuation patterns and the rest mark reversals. A symmetrical triangle is a chart pattern characterized by two converging trend lines connecting a series of sequential peaks and troughs. The triangle can be a continuation or a reversal pattern. Although, more often it is a continuation pattern. There are three types of triangles: symmetric, ascending, and descending. For trading purposes they are all the same, the just look different. A triangle forms when the price action narrows over several price swings. The pattern works best when used as a continuation pattern. This means that before the symmetrical triangle pattern forms we need to have a prior trend (bullish). The prevailing trend prior to the ascending triangle chart pattern can provide a clue about the triangle breakout direction. The symmetrical triangle is a great chart pattern for mid-day trading. In this article we will cover a simple method for trading this reliable pattern. SYMMETRICAL TRIANGLE IN A NEW UPTREND (BULLISH). Symmetrical triangle in an uptrend (bullish). Measure the base, add it to the breakout point and calculate your target. It doesn't get much easier than this. SYMMETRICAL TRIANGLE IN AN UPTREND (BULLISH). Symmetrical triangle chart patterns Triangles are a popular price pattern that traders use. There are several different triangle patterns that can. What is Symmetrical Triangle Chart Pattern? Symmetrical Triangle is a chart pattern, characterized by converging top and bottoms. This is created when there is indecision in the direction of the market. They are the pressure areas in a stock chart where the bulls are optimistic about the market and wants to buy more. Symmetrical triangles are chart patterns that have prices forming between convering trendlines. Learn how forex traders trade symmetrical, ascending, and descending triangle chart patterns. These patterns act like a highlighter on the chart showing a potential trade. The triangle pattern is one of the most popular price patterns in Forex because it is easy to recognize, has a good risk to reward setup, and provides clear and concrete price objectives. Research has shown that symmetrical triangles overwhelmingly resolve themselves in the direction of the trend. With this in mind, symmetrical triangles (in my opinion) are great patterns to use and should be traded as continuation patterns. HERE IS A SAMPLE CHART WITH A SYMMETRICAL TRIANGLE FORMATION. Symmetrical Triangle chart patterns are considered to be continuation patterns. Ascending triangles and descending triangle chart patterns are some of the best chart patterns for new day traders looking to use technical analysis. Triangles are among the most famous chart patterns. And, Symmetrical Triangle is the most famous and popular kind of triangle chart patterns known in technical analysis. Within an uptrend, the possibility of a breakout to the upside can increase due to the overall momentum of bullish sentiment supported by the potentially significant amount of underlying support in the chart. Practical Use: As with any patterns, Symmetrical Triangle Breakouts are carefully assessed by the technical analyst.