QUESTION 1

What is your understanding about Triangles in Trading. Explain all forms of triangles in your own words

Triangles are the easiest trade patterns used to determine price movement so that beginners can see when the price is going up or down in advance before placing a trade. Those new to Crypto trading use it to hit breakout points and exploit the results of strong movements in price.

FORMS OF TRIANGLES

The 3 main different triangles are:

• Symmetrical triangle (neutral version)
• Ascending triangle (bullish version)
• Descending triangle (bearish version)
  With all the above Patterns it can easily be seen how the outcome of our targets will look like and have an idea when it will breakout.

SYMMETRICAL TRIANGLE (NEUTRAL VERSION

Symmetrical Triangle is somehow trickish so we have to be careful when trading with it. We will take our entry position for long above the lowest upper price and a short trade below the highest lower price. It does not form any horizontal lines. Carefully watching the movements so we take our entry point when the price breaks the Support line and the Resistance line.

ASCENDING TRIANGLE

This can be recognized when the asset price bounces off the same upper price level. After bouncing off it does not fall below the edge again, so we have to trade the break away off the triangle since it is a bullish pattern. Looking at the straight line, choose an entry point there above it and set up the stop loss below the rising edge of the triangle, because they will likely be a peak volume much higher than the first ones.

DESCENDING TRIANGLE

The Bearish Flag pattern makes an impulsive move pointing in upside direction, and when it breaks the support line, that will be considered as an entry point to Short. Their flags of top and bottom lines can just be parallel lines.

QUESTION 2

<center Can we also use some Indicators along with it Triangle Patterns? Explain with Screenshots

We can use Trade Indicators like the Ascending Triangle.
From where it forms, we look out for the Resistance line and Support line from where it breaks the Resistance that is where our Entry Point will start and our Take profit Level and Stop Loss Level will be marked

QUESTION 3

Explain Flags in Trading in your own words and provide screenshots of both Bull Flag and Bear Flag

A trader can spot trend extensions with the help of bullish or bearish continuation patterns, which occur in a variety of easily identifiable shapes, some of the most popular of which are know as bull and bear flags.

THE BULL FLAG

A Bull flag is when the price is going to upwards move with its Flag pattern making a strong bullish move considering the Resistance line and Support lines, soon as it breaks resistance then the trader will have a massive sell and take his profits.

THE BEAR FLAG

This is when the Flag is spotted in a downward trend after making a patter of an impulsive bearish move sinking downtrend and breaks the support line, we can consider that Point as our Entry point of short.

QUESTION 4

Show a full trade setup using these Patterns on any Cryptocurrency chart. (Ascending Triangle, Symmetrical Triangle, Bear Flag)

To set up a trade Pattern I will go to my Binance account and choose MARKET Icon because that is where all the Cryptocurrency I will be trading on is found. I will make my analysis based on ETH/USDT, after selecting that I will choose the option where I will set my chart up.

From the position I circled it will bring me to the next point where we have options for the INDICATORS as I circled it below and choose anyone I want.

I will choose MA (Moving Average) that will always show me where the market is either on the selling zone or on the buying zone. Here I set up only one.

You can see I choose 200 and increase the boldness and choose my colour.

Then I click on CONFIRM and everything is set.

Then I go back to my chart.

5. Conclusion

From these Lessons of mine, we have discussed on simple Trade Patterns and how to use them in the Crypto space. There are Bull Flag, Bear Flag, and the Semetrical Triangles. Once someone masters these patterns in Trade, you can be able to move and then trade out successfully.
Thank you so much for going through this my article. I appreciate your time.

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