Triangles are Powerful Trading Patterns

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The following charts are:

  • AUDUSD on 60min chart


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  • EURUSD on a 4 Hr chart
(Click on image for Larger View)

 

This is just a quick email to follow up on the 2 Triangle Patterns (above) which I mentioned early part of this week. This is one of the few patterns that I really like. It’s simple and powerful.

Of course, there are occasions where you lose a trade if there was a false breakout. However, the Reward is usually worth the Risk. The Key here is to let Price Action work its own way.

For now, the Long Bull bars in the last 2 days are great buy signals. Let’s see if we can find a good and safe entry.

 

Thank you and happy reading.

 

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