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.
