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 Top pattern forms when the price of a security fails to retest a high or low and ultimately forms two narrowing trend lines. 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). The price movement inside the triangle should fill the shape with some uniformity, without leaving large blank areas.
If the price breaks out from the bottom pattern boundary, day traders and swing traders should trade with the DOWN trend. Consider selling a security short or buying a put option at the downward breakout price level. To identify an exit, subtract the pattern height from the breakout level to compute the target price. The pattern height is the difference between the highest high and 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.
USDRUB - United States Dollar - Russia Ruble
|TARGET (EXIT) PRICE||73.210700 RUB|
|BREAKOUT (ENTRY) PRICE||73.093400 RUB|
|DISTANCE TO TARGET PRICE||0.22% (15.9 pips)|
|EMERGED ON||Aug 16, 04:35 PM (UTC)|
|WITH CONFIDENCE LEVEL||38%|
USDAUD - United States Dollar - Australian Dollar
|TARGET (EXIT) PRICE||1.361841 AUD|
|BREAKOUT (ENTRY) PRICE||1.360635 AUD|
|DISTANCE TO TARGET PRICE||0.17% (23.7 pips)|
|EMERGED ON||Aug 16, 04:30 PM (UTC)|
|WITH CONFIDENCE LEVEL||43%|
USDGBP - United States Dollar - United Kingdom Pound
|TARGET (EXIT) PRICE||0.721520 GBP|
|BREAKOUT (ENTRY) PRICE||0.720060 GBP|
|DISTANCE TO TARGET PRICE||0.31% (22.4 pips)|
|EMERGED ON||Aug 16, 04:05 PM (UTC)|
|WITH CONFIDENCE LEVEL||33%|
CNYAUD - China Yuan - Australian Dollar
|TARGET (EXIT) PRICE||0.210324 AUD|
|BREAKOUT (ENTRY) PRICE||0.209986 AUD|
|DISTANCE TO TARGET PRICE||0.26% (5.4 pips)|
|EMERGED ON||Aug 16, 03:50 PM (UTC)|
|WITH CONFIDENCE LEVEL||43%|
CNYJPY - China Yuan - Japan Yen
|TARGET (EXIT) PRICE||16.785240 JPY|
|BREAKOUT (ENTRY) PRICE||16.694604 JPY|
|DISTANCE TO TARGET PRICE||0.92% (15.4 pips)|
|EMERGED ON||Aug 16, 03:40 PM (UTC)|
|WITH CONFIDENCE LEVEL||39%|