Descending Triangle

SwingPRO Trade Example

USDJPY | 2013/05/02 | 60 pips

Description: Descending triangles have a nearly horizontal support and a falling resistance. Support breaks are preferred as resistance breaks are considered lower probability. Here the resistance break netted us 60 pips. (ref# 1556)

Thursday, May 2nd 2013 @ 4:40 UTC - Trade Setup: We will trade either direction of that wedge: long on a resistance break or short on a support break with a TP of 60 and a SL of 40. We will take a max of 2 trades (one in each direction) and stop and reverse if a trade is already active.

Friday, May 3rd 2013 @ 6:18 UTC - Result: 60 pips Our long was triggered on the resistance break wedge for 60 pips profit.

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