Generally, couples AUDUSD currency, known as the movement of the old trends. But since October 2008 to July 2010, the couple secretly have been consolidated, exactly after reaching point 3014 pip, with a low point of 0,8065, and point to the high of 1,1079.
In trading, one of the ways to take advantage of a market that is being consolidated, as above, is to apply the pricing pattern on the level of support and resistance. Today, you will learn about the triangle, trading on the currency pair in the event consolidation AUDUSD.
On the weekly chart below, we can see a pattern of symmetrical triangle going on couples AUDUSD. To identify patterns of these prices, indentifikasikan advance support area at this time, and also its resistance, i.e. by means of linking the highest and lowest charts, which occurred in previous trading charts.
In trading, one of the ways to take advantage of a market that is being consolidated, as above, is to apply the pricing pattern on the level of support and resistance. Today, you will learn about the triangle, trading on the currency pair in the event consolidation AUDUSD.
On the weekly chart below, we can see a pattern of symmetrical triangle going on couples AUDUSD. To identify patterns of these prices, indentifikasikan advance support area at this time, and also its resistance, i.e. by means of linking the highest and lowest charts, which occurred in previous trading charts.
The first method on this is, triangle trading by waiting couples AUDUSD breakout point from moving toward areas of support and resistance in his moment. This is the way trading triangle of the most passive, because this way, apply to traders are not required to have a clear market direction, and can open both poisisi at once, i.e. buy and sell.
In this method, the trader can plan for trading at the point of sale support, i.e. at the point of a new low under the range of 0.9750. And at the same time, traders can also take action buy at points above the resistance level, while getting ready, when prices experienced a breakout at a new high point, which is about above 1.5000. In the meantime, stop orders can be placed between two entries, namely in the middle of a triangle pattern that is formed (see chart). Traders need to know that by using this method, the trader can minimize losses remain within a reasonable risk.
The second method is considering doing buy and sell at points between the support and resistance levels. In the example graph below, the trader can do the selling action, along with prices that continue to move towards support. Purchase orders can also be made at the point of this support. Traders who do this option, it will continue to trade as long as prices remained on the triangle. Meanwhile, stop orders can be placed outside the areas of support and resistance, while getting ready, when the breakout is really happening.
Regardless of what you think about the market, understanding the patterns of this triangle can help you make trading decisions, especially when the market is this group it is today. Remember the key is to identify support and resistance levels off the charts the couple.
Posted by Unknown on Monday, February 2, 2015 - Rating: 4.5
Title : Trading Triangle In The Event Consolidation
Description : Generally, couples AUDUSD currency, known as the movement of the old trends. But since October 2008 to July 2010, the couple secretly have b...
Description : Generally, couples AUDUSD currency, known as the movement of the old trends. But since October 2008 to July 2010, the couple secretly have b...
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