Of the triangular patterns found in forex charts, the symmetrical triangle is possibly the most confusing and also the most difficult to trade. But how useful is this chart pattern in practice?
Rising wedge patterns are extremely common in forex charts and they can be useful at any timeframe. This post explains trade setups for bearish breakouts.
This strategy works by detecting breakouts in EURUSD at times when volume is increasing sharply. Usually this coincides with the open of London markets.
The classic way to trade the Keltner channel is to enter the market as the price breaks above or below the channel. This is simple crossover and is a typical breakout strategy.
What I describe here is a decision based trading system that trades on inputs from several chart indicators. This strategy learns the “relative reliability” of any indicator input from experience.