AHG - Profitable Strategy for Struggling Traders

Almost every pullback trade is usually a triangle.

 

Garry,

I just can't tell the difference between a regular triangle and a symetrical one /hope there is one /,have to get used to them as they seem a good play..that's why I'm asking..

 

The usual definition is sides of equal angles but as with everything in trading this is just an approximation. I think all three of this mornings first three trade could be consider sym. triangles. Anec may require a longer timeframe for his tho.

 

Gary

thanks a lot...just can't spot those little m-s , sort of triangle blind..need more practice I guess,thanks again..

 

Remember, a symmetric triangle requires two higher lows and two lower highs.

Price gets trapped, then you look out for escaping side and ride it.

Anek

 

Vinc

Draw trendlines. What else have you got to do when youre not in a trade? Every trend change begins with a trendline break. There is no better indicator out there, imho.

 

and I was just tying to figure out how you guys draw those lines! and you come up with definition.. Anek,I really appreciate your input,I think you woul be an exellent teacher if I ever make any money trading this method I think I'm going to donate some of it following your suggestions

 

Here they are:

Here is the Long Symm, real easy to spot.

Anek

 

Here is the Short Symm, slightly harder to spot due to tight congestion. To be honest I'm not sure if this even qualifies.

You can see how the Long Symm was more obvious to detect.

Thought it had been an additional play but it's one of the shorts I took on the main chart was this one as well, so that leaves only the long symm as the extra play.

Anek

 

If you become an expert at detecting symmetric triangles you cannot lose in the long run if you play them right.

Here is a scenario:

Since they are semi rare....

Load NQ

Load YM

Load ER2

Load ES

Two different time frames to increase chances of them developing. Say one LCD for each emini, a smaller timeframe, and a slightly bigger one.

Using some sort of programmatic alert you could just wait patiently for them or just go with the multiple monitors approach.

The reason I like them so much is because their rate of success is above 50% and their targets can be exponentially bigger than the stops. And that's the right way to trade.

As I said in the journal I know people who live off them, they trade nothing else. They wait patiently for the formation, very lucrative stuff.

Anek