High Accuracy Triangle Chart Patterns Trading System and Strategy

High accuracy triangle chart patterns trading system – Recognizing chart price patterns is an important aspect of technical analysis that Forex traders should master.

These patterns act like a highlighter on the chart showing a potential trade.

The triangle chart pattern is one of the most popular price patterns in Forex because it is easy to recognize, has a good risk to reward setup, and provides clear and concrete price objectives.

Once a triangle is identified on the chart, traders will wait for a breakout either above the resistance trendline or below support.

After a breakout is confirmed with either a closed candle above resistance or below support a stop is placed approximately 10 pips below the last swing low of the triangle.

The limit is equal to the height of the triangle or with Risk-Reward Ratio (RRR) = 1:3

• The best timeframes for this trading system are: H1, H4, and Daily
• Most recommended currency pairs: EURUSD, GBPUSD, USDJPY, AUDUSD, USDCAD

 

• 123 Triangles
• Ichimoku Kinko Hyo
• Stoch
• Signal Trend
• Semafor

 

• 123 Triangles green color
• Price upward and closed above the Tenkan-Sen line (Ichimoku Kinko Hyo)
• Stoch blue color line

 

• 123 Triangles magenta color
• Price downward and closed below the Tenkan-Sen line (Ichimoku Kinko Hyo)
• Stoch red color line

 

Triangle patterns are easy to spot and provide good risk-reward opportunities.

Traders can quickly know that a big move may be near as well the profit objective and the amount to be put at risk.

Once a triangle is identified on the chart, traders will wait for a breakout.

After a breakout is confirmed with either a closed candle above resistance or below support (the Tenkan-Sen line) a stop is placed approximately 10 pips below the last swing low of the triangle.

The limit is equal to the height of the triangle or with Risk-Reward Ratio (RRR) = 1:3
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