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MAYHEM_ORDERFLOW
Feb 24, 2021 6:05 PM

How to trade a Descending Triangle Pattern ? Education

Natural Gas FuturesMCX

Description

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
zAngus
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MAYHEM_ORDERFLOW
@Angusmck, Thanks !!
mandy7124
@Angusmck, Thanks for this info
DalalStreetTrader
This is good
rickyrajib
nicely explained
Besharam_Raftaar
This is really great :)
MAYHEM_ORDERFLOW
@Besharam_Raftaar, thanks man
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