Trading the breakouts of triangles

[Delmara]

Hi Guys,

Just wondering how everyone else out there trades triangles?

It seems to be working for me 90% of the time.

So let's discuss:

what time frames are you using?

what indicators do you combine it with? MACD, Stochastic?

Do you wait for the price to retrace back to the line of the triangle or do you just wait for the full candle to close above/below the line of triangle?

CHeers

 

[Pharaoh]

I've had very mixed results trying to catch a breakout from a triangle. I know there are some people who have good luck with this, but somehow, I seem to frequently pick the "wrong triangle".

If anyone who is good with this wants to post some details, I'm sure there are many of us who would love to see it.

 

[jebat1978]

hello,actually i dont know what is the best filter for the triangle pattern,for me i just filter with fibo and support resistance base on candlestick and with a basic oscilator like the rsi or stoch.depend what the kind of triangle,descending,ascending or triangle like a pyramid<like a letter v or ^ formed>if have a descending triangle formed while the downtrend,may this is a best potential for a reversal.but it is good when the triangle formed at the 4h time frame support zone area like fibo number or low before at the higher time frame,same with an ascending just with an opposite strategy.then it's quite good when the oscilator heading high or turn lower.anyway,i would like to compare with multiple timeframe,for the best entry,just use a basic,buy at support and sell at resistance.watch out the price action,and trade what you see