Symmetrical Triangle Pattern of USDJPY

"Symmetric Triangles" are a sign of indecision in the market, where prices are making both lower highs and higher lows. This pattern forms when supply and demand are roughly equal, causing uncertainty. Most triangles result in a clear breakout in the direction of the previous trend.

Trading strategy: Trades should only be initiated when there is a confirmed breakout or breakdown in the triangle pattern. Entry should be made when the price trades above or below the high or low of the bar that represents the breakout or breakdown.

Target: The target for most "Symmetric Triangles" is to gain 100% of the entire triangle range in the direction of the breakout. Partial exits can be set at 50% of the distance from the trade entry. Trail stops should be used to protect the target.

Stop: In the event of a false breakout, stop orders should be placed below the first major swing low for a long setup and above the first major swing high for a short setup, along the trend line.

Disclaimer: The information provided is for educational and informational purposes only and should not be construed as investment advice. All trades are taken at your own risk and we do not guarantee any specific outcome or profit. Past performance is not a guarantee of future results. Please do your own research and seek professional advice before making any investment decisions. The content creators of this channel may have positions in the securities mentioned, and may make buys or sells at any time without prior notice. The information provided here is not a recommendation to buy or sell any security. The views and opinions expressed here are those of the content creators and do not necessarily reflect the official policy or position of the company. Trading stocks and other financial instruments carries a high level of risk and may not be suitable for everyone. You should always be aware of the risks and be willing to accept them in order to invest in the financial markets.