145. Trading The Triangle Pattern Breakouts Forex Academy

Biweekly Trading Update #3: Trading without Indicators

Over the weekend my trading strategy changed drastically. At first I decided to let indicators completely rule my trading strategy; however, I quickly ran into issues with that ideology. My trading turned into gambling, and could easily be replicated by a simple program. To combat this issue I pushed back-testing indicators from the prior weekend to after I solidify my technical, sentimental, and fundamental analysis. I started learning Naked Forex, order flow analysis, and price action analysis over the weekend, and have started practicing them during the weekday. Although my win percentage is fairly low, I found that my analysis is getting stronger with each trade I take.
My first trade was on the 30 min EUUSD chart. I saw that the market was entering an ascending triangle and started to expect a bullish breakout. I looked at the market sentiment on fxdaily, and saw that most of the market was bearish. I assumed that the bearish presence in the market were the retail traders, and assumed that the market would move in the opposite direction of their expectations. I used order flow analysis to find the momentum and projection of the market, and ended up placing a buy stop in order to catch the market on the expected breakout. One thing I did not factor was multiple time frame analysis. I did not see that the market had entered a channel, and that I placed a trade when it had hit the resistance level. The price reached my buy stop, but proceeded to drop until it hit my stop loss.
As I went back to analyze my technical analysis, I found that I misread the order flow. I also realized that there were many parts of technical analysis that I didn't factor in, such as multiple time frame analysis, major support/resistance levels, and Fibonacci levels. I also decided to take more precaution when looking at the market sentiment, and try back-testing that data before basing another trade off of it.
Although this trade was a loser, I still learned a great deal from it, and feel like I benefited more than my previous trades. The chart analysis was tough to begin, but progressively got easier as I looked for more and more trades. For the time being I decided to stick with the EUUSD, and exclusively look for repeating market behavior and reactions in order to strengthen my market sense and improve my technical analysis before I start back-testing and using indicators. I also have started to pay more attention to candlestick patterns and their link to trend behavior.
Overall I believe that improving my technical analysis is a step in the right direction for my trading journey. I finally feel like i'm trading with my own mind rather than being overly reliant on the indicators on my chart.
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Breakout Trading. Ever wonder how to trade triangle patterns that form on your charts? Or maybe you have seen the same pattern over and over and didn't even know they were what's called "triangle pattern trading."In this strategy, you will find out key price action analysis like: triangle pattern technical analysis, triangle shape pattern, descending triangle chart pattern, ascending triangle ... Trading the Wedge/Triangle Breakout Strategy requires proper pattern identification, spotting the breakout and knowing how to set the entries and exits for each trade. Hope you can make a few pips out of this. Try the strategy out in the upcoming Forex competitions. Trading on Demo accounts minimizes the financial risk and allows you to learn how to make short and long trades safely using Triangle Breakouts Forex Trading System. Triangle Breakouts Forex Trading System ... Breakout Forex Strategies; Patterns Forex Strategies; Chart Patterns; 1# Pin Bar; 2# 2B Pattern; 3# Pin Bar and Awesome; 4# Key Reversl Bar; 5# The Symmetrical Triangle Strategy; 6# 1-2-3 Pattern; 7# Flag Pattern; 8# Bat Pattern; 9# Butterly Patterns; 10# Inside Bar; 11# OutSide Bar; 12# 123 Strategy ; 13# 3 ... Triangle Breakout Strategy. Posted 30/09/2019 27/04/2020 forexadmin. Patterns are valuable aids for any trader in identifying possible edges based on what chart patterns have a possibility of occurring. The trader should understand that certain chart patterns keep on occurring due to the fact that traders make decisions based on the same emotions repeatedly, and that these emotional decisions ... The image below represents the formation of an Ascending Triangle chart pattern in the CAD/JPY Forex pair. The image below represents our entry, exit, stop-loss, and take-profit in the CAD/JPY forex pair. As you can see, in an uptrend, when the price broke above the chart pattern line, it is a sign that the buyers are strengthening. Therefore, if the price is holding above the support line, it ... Triangle Pattern Forex Trading Strategy. By. Tim Morris - November 10, 2017. 0. 11378. Facebook. Twitter. Pinterest. WhatsApp. Linkedin. ReddIt. Email. Tumblr. Telegram. Mix. LINE. Triangle Pattern Strategy . Table of Contents. 1 Triangle Pattern Strategy 1.1 Understanding The Triangle Patterns; 1.2 The Entry; 1.3 The Stop Loss; 1.4 The Take Profit; 1.5 Conclusion; Pattern day or swing trading ... Forex triangle patterns main talking points: Definition of a triangle pattern ... Symmetrical triangle trading strategy. Triangles provide an effective measuring technique for trading the breakout ...

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Triangle Breakout Trading Strategy for Forex, Gold & Bitcoin

The USDJPY is currently breaking out of the upper trendline which forms part of the triangle formation. Price still has to contend with another resistance in the shape of the figure 100 though. #versatileashutosh #daytrading ,this is day trading strategy, it is one of the best breakout trading strategy, this is triangle breakout strategy, find the s... Triangles and Wedges – Forex Trading Strategies \\\\\ Triangles and Wedges – Forex Trading Strategies Descending triangle. You can s... INSANE - Easy Breakout Forex Strategy - Forex Wedge Patterns This Forex Strategy is one of the Easiest, Most Effective Strategies to catch perfect Breakouts ... Please try again later. (Playback ID: _7yZigUo5lYks-mv) http://www.22s.com/baycone if you want to get our forex ebook or get a good broker and see other services we render,use the link above visit our forex websit... For example, figure one shows a number of ways various traders may have drawn a triangle pattern on this particular one-minute chart. The breakout strategy can be used on all triangle types ...