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Expanding Triangle - some
call
this an expando
[more examples1]
[4 in a row] [110303]
[101703Daily] [082203
and tmwr?]
This is the basic setup for an expanding
triangle. Expanding triangles are volatile formations found at tops and
bottoms. They are reversal patterns. Often you can get 2 or more sequential
expanding triangles until the major reversal occurs. An indicator like MACD,
Stochastic , RSI or CCI will usually show divergence.
I currently use on ES 2 pt partial target
and 2 pt stop on trades. Even if the pattern
fails... does not reach target, this setup will give you partial profits
then going to breakeven.
This pattern gives you lots of time to spot
it. In the example below it took 90 minutes until price moved from point 3 to
4.
The example below entry it much like a 2b,
price barely moving above the swing high formed by point 2. At other times,
price will continue much higher before retracing to retest this pivot and
eventually failing.
I have found it a reliable pattern
especially when accompanied by divergence. This is a very good pattern to look
for on long term charts...daily...weekly.
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miracles,
they are everywhere.............. 