Tags Posts tagged with "Triangle"

Triangle

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The following cheat sheet will help you to identify the most common technical patterns that appear in forex charts. Click each heading for more information.

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Of the triangular patterns found in forex charts, the symmetrical triangle is possibly the most confusing and also the most difficult to trade. But how useful is this chart pattern in practice?

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The flag pattern is closely related to the pennant. It’s a continuation pattern that tends to indicate that a trend is pausing rather than reversing.

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Pennants are usually a reliable indication that a trend is set for a new leg. In other words they serve as good continuation signals.

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Ascending triangle patterns are useful for trading bullish trends, on the long side. These are good for short to medium time frames.

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Triangles mark price consolidation. In this article I'll show simple methods to trade them by predicting whether a trend will continue or reverse.