Mastering Triangle Trading Patterns

Triangles are easy to recognize and apply. There are ascending, descending, and symmetrical triangles as well as wedges and flags. I combine them and call them all triangles. I believe triangles have no directional bias. They alert us to a breakout and then what to expect when that breakout occurs.

Traders who follow the particular triangles' directional bias will find that they are disappointed. As I will show you in class, the predisposed direction signals are about 50% success. What triangles do exceptionally well is giving up a buy or sell opportunity as price breaks the support or resistance levels as price moves into the triangle's apex. We can also set target points, stop losses, and entry points.

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