The triangle pattern is one of the common patterns for trading that you should be aware of. These are basic patterns for several reasons: they show a decrease in volatility that could eventually expand again. Triangles provide analytical insights into current conditions and indicate types of conditions that may be forthcoming. The triangle pattern also provides trading opportunities as it is forming and completed.
All you need to do is get your popcorn out and wait for a break from the triangle you drew. It may be a week before you see this if it’s on a daily time frame. If it’s an hourly timeframe, it may not break until the next day. What’s important is that it breaks. If you go back in your charts and draw some of these, you will find that when this break occurs, the break happens fast and is usually very powerful. This is why you need to learn how to draw these on your charts so you can cash in on those pips
Once you see that it broke the triangle that you drew, you can technically go ahead and trade at that position. This method would be for more advanced traders who also consider the current price action and the market volatility. There is a more significant risk in trading this way. Still, it could pay off if you identify the correct price action and the market does what it is supposed to do.
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