GBPCAD: Triangle Patterns and How to Trade

The price is moving sideways in the borders of a triangle chart pattern. What does it mean? It means that we have to use rules for trading such a pattern. If the price breaks the upper line, it will give a buying opportunity. If the price breaks the bottom line, it will be possible to short.

Stop orders should be placed above and below the local swing highs and lows. Profit targets can be round numbers. Risk per trade must be no more than 1-2% from the capital.



Disclaimer!
This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.