CADJPY: The Triangle Pattern and How to Trade
The 4H chart gives us a triangle chart pattern. How to trade it?
It is possible to buy from the support line of the pattern with the target at the resistance line and stop orders below the local swing low.
But the better trades will be based on breakouts below the support line or above the resistance line. The market is consolidating now, and the breakouts will allow us to catch a new trend movement. All trades must be used with stop orders and 1-2% risk per trade.
Disclaimer!
This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.
It is possible to buy from the support line of the pattern with the target at the resistance line and stop orders below the local swing low.
But the better trades will be based on breakouts below the support line or above the resistance line. The market is consolidating now, and the breakouts will allow us to catch a new trend movement. All trades must be used with stop orders and 1-2% risk per trade.
Disclaimer!
This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.
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