Triangle Trading -Qs (Triangle Trading -Qs) | Foreign Exchange EA Download- MT4/MT5 Resources

I believe most of us know how to draw triangles using trend lines. And I always see most traders uploading charts with triangle setup on FF! But, do you know how to predict or find your target price once price breaks out of a trendline?

Please follow these rules:

How to trade?

Now that you can identify triangles and understand their behavior, how do you trade them?

Step 1 (First Goal)
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1. Draw a horizontal line at a higher high or where price hits the first higher resistance within a trendline/triangle.
2. To avoid false breakouts, buy when price closes above the trend line.
3. Start by aiming for the horizontal line.

Let's see what happens?

http://www.sribena.com/pic3.jpg

Step 2 (Second Goal)
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1. Measure the spread from A to B, or the price of A minus the price of B. Looking at the daily chart example above, the distance between A and B is 574 points.
2. Buy when price closes above the trendline/triangle (same as step 1). When the price opened it increased by 574 points. In my case, my second target is 1.5038

Let's see what happens again?

http://www.sribena.com/pic5.jpg

The second target was also hit! ! So be it. . Don’t be too greedy:

As long as you draw the correct trendline or triangle, you can trade any currency on any time frame. Please practice a lot before trading on a real account.

Do you want a third goal? Ha ha...

Good luck and happy trading.

p/s: Thank you for your comments, opinions, suggestions on this method.

*The charts in this article have been removed.