Real-time pattern trading is the easiest way to find entry and exit prices if you can scan hundreds of FOREXs within minutes. It is definitely impossible for humans. Artificial Intelligence (A.I.) not only discovers these patterns, but also checks if they worked out well in the past. Knowing the success rate in the past allows A.I. to establish the odds of success in the future.
The Symmetrical Triangle Bottom pattern forms when the price of a security fails to retest a high or a low and ultimately forms two narrowing trend lines. Points 1 5 form the triangle patterns. The price is expected to move up or down past the triangle depending on which line is broken first.
This pattern is commonly associated with directionless markets since the contraction (narrowing) of the market range signals that neither bulls nor bears are in control. However, there is a distinct possibility that market participants will either pour in or sell out, and the price can move up or down with big volumes (leading up to the breakout).
If price breaks out from the bottom pattern boundary, day traders and swing traders should trade with the DOWN trend. Consider selling the security short or buying a put option at the downward breakout price level. To identify an exit, calculate the pattern height by taking the difference between the highest high and the lowest low. Then, calculate the target price by subtracting the pattern height from the breakout price, which is the lowest low.
To limit potential loss when price suddenly goes in the wrong direction, consider placing a stop order to buy back a short position or sell a put option at or above the breakout price.
Time frames No matter your trading strategy (day trading, swing, etc), we have patterns that will be ready to trade.
JPYRUB - Japan Yen - Russia Ruble
|TARGET (EXIT) PRICE||0.667104 RUB|
|BREAKOUT (ENTRY) PRICE||0.666057 RUB|
|DISTANCE TO TARGET PRICE||0.37% (24.7 pips)|
|EMERGED ON||Aug 13, 08:45 PM (UTC)|
|WITH CONFIDENCE LEVEL||44%|
NZDGBP - New Zealand Dollar - United Kingdom Pound
|TARGET (EXIT) PRICE||0.503800 GBP|
|BREAKOUT (ENTRY) PRICE||0.499520 GBP|
|DISTANCE TO TARGET PRICE||1.54% (78.0 pips)|
|EMERGED ON||Aug 13, 12:00 PM (UTC)|
|WITH CONFIDENCE LEVEL||35%|
NZDCNY - New Zealand Dollar - China Yuan
|TARGET (EXIT) PRICE||4.528938 CNY|
|BREAKOUT (ENTRY) PRICE||4.520382 CNY|
|DISTANCE TO TARGET PRICE||0.73% (331.1 pips)|
|EMERGED ON||Aug 13, 10:15 AM (UTC)|
|WITH CONFIDENCE LEVEL||44%|
NZDUSD - New Zealand Dollar - United States Dollar
|TARGET (EXIT) PRICE||0.691800 USD|
|BREAKOUT (ENTRY) PRICE||0.675360 USD|
|DISTANCE TO TARGET PRICE||4.01% (282.3 pips)|
|EMERGED ON||Aug 12, 08:00 PM (UTC)|
|WITH CONFIDENCE LEVEL||19%|
RUBUSD - Russia Ruble - United States Dollar
|TARGET (EXIT) PRICE||0.013490 USD|
|BREAKOUT (ENTRY) PRICE||0.013350 USD|
|DISTANCE TO TARGET PRICE||2.13% (29.0 pips)|
|EMERGED ON||Aug 12, 05:30 PM (UTC)|
|WITH CONFIDENCE LEVEL||18%|