Breaking down the Triangle Breakouts
To help you memorize the different types of triangle
breakouts, just think of facial breakouts.
Ascending triangles usually breakout to the upside. So when
you think of ascending triangles, think of breaking out on your forehead.
Descending triangles usually breakout to the downside. So
when you think of descending triangles, think of breaking out on your chin.
Symmetrical triangles can break either to the upside or the
downside. So when you think of symmetrical triangles, think of breaking out on
both your chin and forehead.
"Remember that sometimes not getting what you want is a
wonderful stroke of luck."
By Dalai Lama .
"Winners are not afraid of losing. But loses are.
Failure is part of the process of success. People who avoid failure also avoid
success."
By Robert Kiyosaki.
Symmetrical Triangles (Part
3)
In the case of the
symmetrical triangle, you want to position yourself to be ready for both an
upside or downside breakout. A perfect time to use the one-cancels-the-other
(OCO) order! Don’t remember what an OCO order is? Go review your types of
orders!
In this scenario, GBP/USD broke out on the upside and our
long entry was triggered.
"What is success? When your ‘Signature’ changes to
‘Autograph’ ."
By Dr. APJ Abdul Kalam.
"Long term success only comes after many short term
failures."
By Billy Cox.
Symmetrical Triangles (Part 2)
Unlike the ascending and descending
triangles which are generally bullish and bearish signals, symmetrical
triangles have NO directional bias. You must be ready to trade a breakout on
either side!
"Cut your excuses in half and double the amount of
action you take."
By Robin Sharma.
Symmetrical Triangles
The third type of triangle is the symmetrical triangle.
Rather than having a horizontal support or resistance level, both the bulls and
the bears create higher lows and lower highs and form an apex somewhere in the
middle.
"Close all your escape routes. Burn all your plan bs
and get busy doing that dream that only you were built to do."
By Robin Sharma.
"The size of your success is measured by the strength
of your desire the size of your dream and how you handle disappointment along
the way."
By Robert Kiyosaki.
Descending Triangles (Part
2)
Descending triangles are generally bearish signals. To take
advantage of this, our goal is to position ourselves to go short if the price
should breakout below the support level.
"We learn to walk by falling down. If we never fell
down, we would never walk."
By Robert Kiyosaki.
Descending Triangles
Descending triangles are basically
the opposite of ascending triangles. Sellers are continuing to put pressure on
the buyers, and as a result, we start to see lower highs met by a strong
support level.
"Do not get upset with people or situations, both are
powerless without your reaction."
By Unknown Author.
WHAT TYPE OF COMPUTER OR OPERATING SYSTEM DO I NEED TO USE?
A minimal computer system that has 3 GB of hard drive space
and 128 MB of memory running any version of Windows.
"You have two ears and one mouth. Follow that ratio.
Listen more, talk less."
By Unknown Author.
Ascending Triangles (Part 3)
What we are looking for is a breakout to the upside since
ascending triangles are generally bullish signals. When we see a breach of the
resistance level the proper decision would be to go long.
"When everything seems to be going against you,
remember that the airplane takes off against the wind, not with it."
By Unknown Author.
"Your assumptions are your windows on the world. Scrub
them off every once in a while, or the light won’t come in. Staying alive is
not enough"
By Alan Alda.
Ascending Triangles (Part
2)
The story behind an ascending
triangle is that each time the price reaches a certain high, there are several
traders who are convinced about selling at that level, resulting in the price
dropping back down.
On the other side, there are
several traders who believe the price should be higher, and as the price begins
to drop, buy higher than its previous low. The result is a struggle between the
bulls and bears which ultimately converges into an ultimate showdown…
"Always do your best. What you plant now, you will
harvest later."
By Og Mandino.
Ascending Triangles
Ascending triangles form when there
is a resistance level and the market price continues to make higher lows. This
is a sign that the bulls are slowly starting to gain momentum over the bears.
"Your dream doesn’t have an expiration date. Take a
deep breath, and try again."
By Unknown Author.
CAN I USE ANY FOREX BROKER?
SSLFX GURU works with any trade station or broker. However,
we recommend using the ActivTrades trade station. We have personally researched
and used ActivTrades and have found they are committed to offering their
clients fast and efficient deal execution. ActivTrades also offer traders a
high level of professionalism and customer service.
If you are new to Forex trading you can sign up for a free
demo trading account through ActivTrades. This demo account will allow you to
make pretend trades with no risk and at real market prices. Once you are ready
to open a live account, we suggest you use ActivTrades as your broker.
"Let your dreams be bigger than your fears and your
actions louder than your words."
By Unknown Author.
Triangles
The third way you can spot breakout
opportunities is by looking for triangles. Triangles are formed when the market
price starts off volatile and begins to consolidate into a tight range. Our
goal is to position ourselves when the market consolidates so that we can
capture a move when a breakout occurs.
There are 3 types of triangles:
1.Ascending triangle
2.Descending triangle
3.Symmetrical triangle
