There are 3 types of triangle patterns according to their shape:
1. Ascending Triangle
2. Descending Triangle
3. Symmetrical Triangle
1. Pattern of Ascending Triangle
The ascending triangle that occurs when an uptrend or upward movement includes a bullish chart pattern that is easy to recognize and can be used as a signal to take trading positions.
The ascending pattern can be considered as a signal of continuation if there is an ongoing trend.
Traders can take open trading positions when the price movement has passed the upper or lower triangle line.
2. Pattern Descending Triangle
The descending triangle pattern usually occurs when the trend is down or downtrend. It is seen from the shape of the descending pattern is the opposite of the ascending pattern.
Both low levels on the chart form a support triangle, and the price point that forms a low level does not have to be exactly the same.
The size of the trading volume also has an important effect in giving a price breakout signal that breaks the triangle pattern line.
We can take an open trading position when the price movement breaks the triangle line.
3. Symmetrical Triangle Pattern
This pattern forms a symmetrical triangle. Symmetrical triangle patterns occur in market movements where the price is unclear, because the upper and lower lines of the triangle look the same and nothing is straight.
In this uncertain market situation, the lowest and highest levels appear to form funnels, without significant changes in volume.
Usually breakout occurs following the direction of the trend that is happening at a larger time frame.
But we can take an open trading position when the price moves through the upper and lower lines of the triangle pattern.
To be more accurate, you can use combinations with other indicators simultaneously.
This trading strategy can be used for various types of trading starting from a 1-minute binary option, daily forex trading, and stock trading.
Well that's the way to trade using the Price pattern triangle. Hopefully it can help you achieve profit consistently and hopefully useful.
if it's still unclear please video below.
if it's still unclear please video below.
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