I believe that triangle figure is one of the most effective in terms of determination of trend reversals. In my opinion, we always should check the graphic and dtdermine which pattern/indicator we can apply here. Of course it doesn't guarantee that you will earn money, however it has a good winrate according to my spectations. That's why I advice all traders to payattention to truangle pattern and learn how to apply wisely. You can combine it with other indicators which are served as a determination of trend reversal. If you have no experience in it, then just learn how to determine trend direction and try to apply it on demo.
I guess that the most useful indicator (pattern) for me is triangle because it helps me a lot to determine trend reversal. I know that there are some other indicators which are also as useful as triangle and it can be combined with other pattern, nevertheless I guess that triangle works perfectly independent. Moreover, I think that people should always pick those indicators which have the biggest winrate according to their spectations. So, if you see that stochastic oscialltor helped you to gain more money, then use it and try various combinations which include stochastic oscialltor. So, here everything is pretty individual.
I actually prefer the combination of several indicators, for example, if I do some scalping, thne I use RSI and MACD. Of course, some traders can state that these indicators have to be used for higher timeframes, nevertheless they helpd me on M1 a lot. Moreover, I got used to use stochastic oscillator, if you set it up correctly, then probably it also can be used for scalping. Actually, I pay more attention to figures and patterns, because they have never betrayed me. Triangle works perfectly, especially on today's market. It's so volatile because of coronavirus and it's great to conduct echnical analysis actually.
There are a lot of indicators to test and use in your strategy. However, there are some basic indicators that every trader must know- 1) Moving Averages 2)Exponential moving average 3)Relative strength index (RSI) 4)Stochastic oscillator
ADVERTENCIA DE ALTO RIESGO: El comercio de divisas implica un alto nivel de riesgo que puede no ser adecuado para todos los inversores.
El efecto de apalancamiento crea un riesgo adicional y una exposición a las pérdidas. Antes de decidirse a operar con divisas, considere cuidadosamente sus objetivos de inversión, su nivel de experiencia y su tolerancia al riesgo.
Podría perder una parte o la totalidad de su inversión inicial. No invierta dinero que no puede permitirse perder. Infórmese sobre los riesgos asociados al trading de divisas y pida consejo a un asesor financiero o fiscal independiente si tiene alguna duda.
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