Today, we are going to expose Forex chart and more precisely one type of Forex chart: the symmetrical triangles. Why this Forex chart or pattern is important for your Forex trading success? How do you detect and identify the formation of such a Forex chart? What to do and what to look for when you see one? When to take action for minimum risk and big return?
Here's what it's all about: apparition and formation of this symmetrical triangle in your chart analysis warn you that very soon a short window of time is coming and give you a serious opportunity to make money quickly. The principle is as follow: you make profits from big movements before they arrive so that you can take this wave and collect dollars as fast as possible… guaranteed!
We're not through yet and here's how it looks like: in any Forex charts, the slope of the price's highs and the slope of the price's lows converge to a common point. The two slops and this point form the symmetrical triangle.
What does this mean for you?
This is what we call a consolidation. During this time, the high prices become much lower and the low price become much higher. Precisely, the buyers and the sellers are equally trading. Nobody really win for the moment and nobody can put the price where they want to make their gain from a selling or a buying perspective.
What happened next may surprise you because as far as the two slopes get much closer and converge quickly to this common point we have just described above: a breakout is very close to happen. Of course, we don't know exactly where and when but definitely we know that this Forex chart is screaming loudly “I will break out now and you can make a fast amount of money!”… oh hell, you get the idea.
The best Forex tactic here is to place an entry above the superior slope of the Forex chart and another one below the inferior slope. Stay with me because It's almost here: you've got 2 entry points, up and down your identified symmetrical triangle around his apex. Be prepared and be active… when one of your entry point is activated you just cancel the second entry immediately… and the money begin to flow suddenly into your deposit and bank account. That's how you make money online like a top trader with symmetrical triangle. Your activated entry point gives you the money of this inevitable breakout and you instantly stop all possible losses by canceling the other entry order.
Is there more you need to know?
It's pretty easy, isn't it?
There are dozens of Forex charts and Forex patterns to know and we will cover them in our next articles.
But for now, you can profit from this symmetrical triangle and from all the powerful known and jealousy guarded Forex chart with the help of our top 3 best Forex trading softwares we've honestly reviewed here at this reliable resource and who do the job of identifying, detecting and placing orders for you when a Forex chart is coming.