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Triangle Chart Patterns Trading on MT4 Triangle chart patterns are the most traded chart pattern in currency trading. There are three types of triangles most traded in currency trading: Triangle Chart Patterns •symmetrical triangles •ascending triangles •descending triangles Triangle Chart Patterns are Easy to Identify on Forex Charts Identifying triangle chart patterns is easy when a complete technical analysis has been carried out. Locate 2 higher highs and 2 lower lows. Next, draw a line through them. Join at least 2 lower lows with one line, and 2 higher highs with another line, and you’ll have a nice triangle chart pattern. You have just identified a trade-able chart patterns most traded in forex trading. A minimum of four ‘bounces’ should be observed before this triangle formation can be considered a reliable pattern to trade with. Research by Thomas Bulkowski and many famous technicians indicate that price often breaks out of the symmetrical triangle ahead of the price at which the 2 trendlines converge, which is labelled the apex. From the point where the triangle begins, research shows that most triangles break out of either the upper or lower trendline anywhere from the 66 percent and 75 percent of the way to the apex, though some triangles break out at the apex. ...To continue reading the rest of the article, please click here.

Triangle Chart Patterns  

Triangle Chart Patterns Are Most Traded on the Forex Charts. Patterns can be used as a technical indicator in technical analysis for forex t...

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