Triangular Price Correction (4xfx.biz)

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  • Trading books are a form of accounting ledger that contains records of all tradeable financial assets of a bank.
  • Trading books are subject to gains and losses that affect the financial institution directly.

Triangular Price Correction (4xfx.biz)

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You’ll likely notice we’ll specifically discuss trading the breakout from the triangle as opposed to entering during the triangle hoping to catch the breakout because a lot of margin can be used up while waiting for a triangle to break and some triangles can take weeks, or months, or years to breakout.

Because of the drawn-out sideways price action, it’s best to label and identify key points of the triangle. For simplicity sake, let’s use Elliott Wave labeling which labels corrections with letters and triangles specifically with a-b-c-d-e for the key points.

Recommended Reading: How to Understand the Three Building Blocks for Trading Elliott Wave

USDMXN was a 5-year Triangle

Trading the Breakout after a Triangle Correction

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When Do Triangle Corrections Occur?

Triangles often occur before the last move of a current trend and rarely in the early part of the trend. However, that doesn’t mean you should start selling into a triangle breakout thinking it will trade lower. It likely will for a short period of time but triangle could have been a fractal part of the overall trend meaning the overall trend will resume much higher. When a triangle breaks as identified by the points below, it’s best to follow and or trade with the overall trend

How to Trade the Following Breakout

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