next point of contact with the opposite trendline. We place our stop-loss slightly below the most recent significant low.6215 (a 25-pip difference from the buy price). The price rally continues but falls short of the recent new high. Stops are placed at the second trough (or low) formed just before the break out or at a more valid price level. Symmetrical triangles usually develop after a stock has had a spectacular move. Here are some of the more basic methods to both finding and trading these patterns. The example below of the EUR/USD (Euro/U.S. Favor trades where the potential reward outweighs the risk by a factor of two or more.
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Slowly the stock moves lower on no specific news and extremely light volume. What are the details that I should pay attention to in a symmetrical triangle pattern? Measure the length of the triangle from its base to the apex. Upside breakouts often lead to small 2-3 rallies followed by an immediate test of the breakout level. However, many experts advise investors that because the breakout direction could go either way that they wait until the breakout occurs before investing in or selling the stock.