3 Secrets That Will Bring You Success For Any Triangle Pattern| KOL Forex Analysis•Jay Tun

Not all triangle patterns are as powerful and reliable. In fact, triangle patterns often fail to deliver. However, there are 3 secret characteristics of those which are highly reliable. The profits that these triangles bring are usually massive, out-sizing the amount of risk.

Before diving in to the 3 secret characteristics, youll need to know how triangle chart patterns look like and the 2 most common types of triangles.

Spot It Right

#1 Ideal Symmetrical Triangle

Characteristics

1. At least 4 swings (up and down)

1. Each peak is lower than the previous and each bottom higher than the previous

2. Prices and volume diminish as the pattern is formed

3. Prices and volume usually move sharply upon the breakout (only for a bullish breakout)

#2 Ideal Right-Angled Triangle

Characteristics

1. At least 4 swings (up and down), with one of the lines being horizontal, hence the name of this triangle pattern

1. Each peak is lower than the previous and each bottom higher than the previous

2. Prices and volume diminish as the pattern is formed

3. Prices and volume usually move sharply upon the breakout (only for a bullish breakout)

What Happens Inside The Triangles？

In a bullish triangle, the bulls and bears are having a massive fight. Initially, the bulls look to be winning, but the bears wont give up without a fight. As the bulls push prices up to a certain level, the bears step in, pushing prices down. The same cycle repeats, forming a triangle.

In a bearish triangle, the bears force prices down before the bulls wake up to push prices back up. This cycle repeats, forming a triangle.

3 Secret Characteristics

You have learnt how to identify and differentiate the 2 main types of triangles. You are ready to discover what the 3 secret characteristics are.

These 3 secret characteristics improve the reliability of the pattern:

1. The nearer the breakout occurs to the apex, the better

2. The more prices touch the lines, the better

3. Be wary if the volume is low during the bullish breakout

Show Me The Money

Only trade breakouts.

Steps:

· Watch for price to break the triangle pattern line

· Enter your position according to the direction of the breakout the next session

o If you are trading using the hourly chart, enter the trade an hour later

o If you are trading according to a daily chart, enter the trade on the next day

· Set your stop loss

· Set a profit target (based on the height of the triangle as shown)

o Yes, you may set your profit target farther out for more profits

「About The Author」

An independent trader who seeks to educate through his own trading

experiences, Jay began his own trading journey at the age of 22.

He is a self-taught trader who has read more than 200 books on

trading and investment since college and created his trading

methodologies modelling after several successful veteran traders.Jay has

since amassed 10 years of experience trading different market

conditions with consistency. Of the many disciplines in trading, he

specializes in trading options, swing trades on equities,

currencies,futures and contract-for-difference (CFDs).

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