Welcome! Dear Traders,you are reading my forex trading experiences. Forex trading is a very profitable and very risky business opportunity. If you are a beginner, calm down,have a cup of coffee, and convince yourself that you need to study hard to win in forex trading. Obviously, the task is not easy as the statistics claim that only 5% traders win in forex trading. If you are determined, serious,and hard working, you can surely be included in the group of winners.

TRADING FOREX WITH SYMMETRICAL TRIANGLE CHART PATTERN

Symmetrical triangle chart pattern has one falling top and one rising bottom. Falling top consists of highs and rising bottom consists of lows. In other words the falling top holds resistance points and the rising bottom holds the support points. 

As in a symmetrical triangle chart pattern, the resistance levels are coming lower and lower and the support levels are going upper and upper, both upper line and lower line break out gives valid signal.

To draw a symmetrical triangle pattern we must have at least two highs and two lows.
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The stop loss of an order placed based on the symmetrical triangle pattern is placed at the previous support or resistance level, or little bit lower or upper than the support or resistance level respectively.

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