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Tag: Contracting triangles

How to Trade a Contracting Triangle

How to Trade a Contracting Triangle

Finance
Contracting triangles are a popular pattern among forex traders in the UK. They offer traders an opportunity to make educated guesses about the direction of a trend in the market and to enter or exit positions accordingly. It is crucial for any trader that wishes to use contracting triangles as part of their trading strategy to understand how they can be used effectively. This article will provide an overview of how to trade with contracting triangle patterns in forex trading in the UK. Identify Triangle Patterns The first step in developing a successful trading strategy with contracting triangles is to recognise the patterns when they appear. Contracting triangle patterns consist of three points, or highs and lows. The pattern is formed when two trendlines converge, forming a t...