RaduIonut2019

Descending triangle trading strategy

FX:NZDCAD   New Zealand Dollar/Canadian Dollar
Below is a good example of the descending triangle pattern appearing on NZD/CAD. A downtrend leads into the consolidation period where sellers outweigh buyers and slowly push price lower. A strong break of the lower trendline presents traders with an opportunity to go short. In this example, it doesn’t take long for the position to move in the opposite direction, highlighting the importance of setting an appropriate stop level.

The take profit level is set using the vertical distance measured at the beginning of the descending triangle formation.

Comments

NZD/CAD sorry for mistake
Reply
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter
Profile Profile Settings Account and Billing Referred friends Coins My Support Tickets Help Center Ideas Published Followers Following Private Messages Chat Sign Out