When trading binary options, one always needs to have some sort of a system to fall back on. Going with gut-feelings all the time is a surefire way to losing one’s bankroll and to being pushed out of trading for good. One of the best ways to establish a system which stands a good chance to work out fine is to simply adapt a proven one from trading in other markets. The Triangle Touch strategy is exactly this sort of a solution. It – like most of the best binary options trading systems – is based on the identification and subsequent exploitation of specific chart patterns formed by the candlesticks which define the price action of a given asset.
The first step towards understanding how this strategy works is to define the triangle pattern, of which there are two sub-types: ascending and descending ones. An ascending triangle is defined by a series of candlesticks with steady highs and gradually higher lows. Such a chart-pattern is considered to predict an upward breakout of the asset price, which means that it will break through the horizontal resistance line defined by the highs of the candles, and it will not head lower than the sloping support line, defined by the gradually higher lows of the candlesticks.
A descending triangle is the opposite of the above defined ascending one: it is defined by candlesticks with steady lows and gradually lower highs. This chart pattern heralds a downward breakout, where the asset price will break through the horizontal support line defined by the lows of the candlesticks, and it will not go higher than the downward-sloping resistance defined by the candlestick highs.
How do you trade these patterns and price-breakouts though? The situations predicted by the triangle chart patterns obviously call for the trading of the Touch/No Touch contract. In the case of an ascending triangle, the Touch zone will obviously be above the horizontal resistance line defined by the candlestick highs. The No Touch Zone will be below the sloping support line defined by the gradually higher lows. The question here is, just how high will the asset price go following the bullish breakout? There’s a pretty logical solution to this question too: by using the automatic pivot point calculator, one will find several potential resistance levels for the asset price. The first one of these levels is obviously the target.
NB: Interested In Mining Bitcoin And Other Cryptocurrencies for Profit? Now, You Can Mine Better, Faster and Smarter for More Profits With The Ready to Use, "High Performance", and Approved Super Simple Mining BTC Cloud Service For Miners. With This Mining Service, You Will Get Up to 45% Monthly ROI from Mining Bitcoins Alone Without Having to Buy Any Expensive Mining Hardwares and Softwares! Not Only That, You Will Get Your First Payout In First Few Hours After Buying a Plan With Hash Power Factory. You’re Also Given a Dedicated Account Manager After You Buy A Plan Who Will Help You With the Best Pool Allocations and Account Setup Plans To Get the Most Out of Your Purchase. Click the Banner Below To Register Now:
Note: If your language is not English, you should use the language dropdown menu at the top of their page to select your language.
Help Us Fight Scams. Please Donate to Support Our Work. No Amount is too Little or too Big. Thank You..
August 23, 2017 By Warren
Some social media users have been blasting and trolling Meir Barak of Tradenet because he said in one of his...
June 7, 2017 By Warren
Is Forex School Online going to really teach you the right skills needed to make money from the markets? We...
June 6, 2017 By Warren
The word ''Forex'' is an intriguing phrase for most people. That alone makes the Forex market a healthy breeding ground...
June 6, 2017 By Warren
Traders Elite (traderselite.com) is a scam that claims to have the secret of identifying the exact millisecond to enter and...
June 4, 2017 By Warren
The Forex market is a lucrative place to be. However, it is also a conducive environment where scams like Super...
Valforex.com cannot be held liable for any damages incurred due to the usage of any information displayed on this website. The information and trading guides found on the website constitute the authors’ opinion only. Both Forex and Binary options involve high-risk and are not suitable for all investors. Either Forex or Binary options may not be legal in your jurisdiction. It’s visitors’ responsibility to make sure these entities are legal in their jurisdiction before engaging in trading activity… Read More