Trading Ideas
Triangle Pattern Trading: Learn the Basics
Triangle pattern trading is a strategy many day traders use to enter and exit their positions with confidence as prices stabilize. Triangles are a continuation pattern—meaning they’re not marked by a price reversal. In fact, the trend continues in the direction it was going. This is different from a wedge pattern in the sense that the price continues to rise or fall after the point of convergence.
Triangles are, best put, a type of support level within a trend. There’s a certain stabilization from the reduction in volume. After which, traders will enter or exit their positions—usually according to the previous …read more […]