kate682 wrote:MightyOne wrote:Keep in mind I make all of this up; it is not real technical analysis until someone sells it in a book
Thanks Mo, Jalarupa, Captain
Ha, so i've drawn my triangles completely wrong. Just cannot see how to draw them.
Have copied Jalarupa and simply superimposed that type over as per chart below, however,
on what basis should they be drawn?
And then i just trade space from rejected breakouts at those lines.
Surely it can't work?!
Anyway focus today is to try and find the triangle drawing rationale
I hope that you have mastered the basics (space, placing/trailing stops, etc) before considering confluence
That said, I see nothing wrong with your last chart.
Here is the basic pattern: