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3 Secrets That Will Bring You Success For Any Triangle Pattern

  • Sep 19
    3 Secrets That Will Bring You Success For Any Triangle Pattern


    Not
    all triangle patterns are as powerful and reliable. In fact, triangle
    patterns often fail to deliver. However, there are 3 secret
    characteristics of those which are highly reliable. The profits that
    these triangles bring are usually massive, out-sizing the amount of
    risk.To get more news about WikiFX, you can visit wikifx official website.

      Before
    diving in to the 3 secret characteristics, youll need to know how
    triangle chart patterns look like and the 2 most common types of
    triangles.
    Characteristics

      1. At least 4 swings (up and down)

      1. Each peak is lower than the previous and each bottom higher than the previous

      2. Prices and volume diminish as the pattern is formed

      3. Prices and volume usually move sharply upon the breakout (only for a bullish breakout)
    What Happens Inside The Triangles?

      In
    a bullish triangle, the bulls and bears are having a massive fight.
    Initially, the bulls look to be winning, but the bears wont give up
    without a fight. As the bulls push prices up to a certain level, the
    bears step in, pushing prices down. The same cycle repeats, forming a
    triangle.


      In
    a bearish triangle, the bears force prices down before the bulls wake
    up to push prices back up. This cycle repeats, forming a triangle.

      3 Secret Characteristics

      You
    have learnt how to identify and differentiate the 2 main types of
    triangles. You are ready to discover what the 3 secret characteristics
    are.

      These 3 secret characteristics improve the reliability of the pattern:

      1. The nearer the breakout occurs to the apex, the better

      2. The more prices touch the lines, the better

      3. Be wary if the volume is low during the bullish breakout