Arren_Whitmore

How to trade a Descending Triangle Pattern ?

Education
MCX:NATURALGAS1!   NATURAL GAS FUTURES
7048 views
71
Tools Used :

VWAP
Stochastic RSI

Strategy :

1. Look for RSI crossovers (when the blue line crosses the red line either way), in the overbought / oversold zone in particular.
2. For even safer entries, wait for the price to cross the VWAP .
3. Try to buy and sell on or near the lower and upper extremes of the pattern.
4. Look for reversal signals when approaching the extremes, backed by RSI crossovers, e.g., pin bar , or spinning top , or bearish / bullish engulfing , or a doji .

Hope it will be useful.
Follow for more <3
Trade closed manually: Trade Placed : 206.4
SL : 207
Trade Closed : 201.5
Profit : -2.35%

Comments

This publication has been chosen for the Editor's Picks and will be featured on https://in.tradingview.com/ideas/editors-picks/

Thank you for your valuable contribution to the Tradingview community and keep up the good work!
100 coins
+3 Reply
@AngusMcK, Thanks !!
+3 Reply
mandy7124 AngusMcK
@AngusMcK, Thanks for this info
+1 Reply
This is good
+1 Reply
nicely explained
+1 Reply
This is really great :)
+1 Reply
Arren_Whitmore Besharam_Raftaar
@Besharam_Raftaar, thanks man
Reply
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