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
