In this article, we will share the real swing triangle trading example for the EURUSD.
Consolidations are usually hard to trade. You never know where is the beginning of a triangle and when it will approach its end. As with any pattern on the market, this one as well is not impossible to trade. You just need a proper trading strategy, a good momentum entry, and a tight stop loss. Also, you need to monitor the trade closely.
RECOMMENDED SL 1.17523 RECOMMENDED TP 1.16200 EURUSD Sell EURUSD sold at 1.17141 Recommended lot size 0.70 Our trading sizes are based on a 50k account. You can adjust the size of the trade in line with your risk. Selling the pair for another triangle consolidation swing down and a possible triangle downside break.
Our trade started to develop, and the pair started to fall into the middle of the triangle, which triggered some of our profit taking. In that moment we took the half of the trade size out for profit, and we moved the stop loss to break even making the trade risk free. As it continued to fall next day, we took out the profit on the half of the size left and we moved the stop loss to the middle of the triangle to lock the profit on the rest of the trade size and waiting for a possible triangle downside break. Overall result $354 of profit from 0.50 lot size. We have left the open 0.20 lot size with the stop loss at 1.16691 level and open take profit target. Our locked profit is around $100 with the possibility of an extreme increase in the case of a strong triangle break and a test of 1.15000 level.
By using our top-down trading technical analysis we have identified the key levels which will be triggers for the entry and exit, based on the present market conditions of the instrument. That gave us expected profit since we didn’t want to risk much because the swing trading is a risky strategy. Our trigger candle was as always based on H4 chart and the stop loss and take profit levels as well. We have used the trend lines and price action as the tools for the trade. All the changes of the trade are published, as well as the trade alert, via private twitter feed and Telegram real-time.
Happy trading! (click on the chart to enlarge it)
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Through time we have developed a very respectable trading strategy which defines Entry, Stop Loss and Take Profit levels with high accuracy and allows you to make position Risk Free. We are publishing 5-10 trade alerts per week via real-time Private twitter feed!
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