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Guppy Symmetrical Triangle Forex Trading Strategy

There are numerous ways to trade symmetrical triangles successfully in the forex markets. I have developed the Guppy Symmetrical Triangle forex trading strategy to put the trader on the right side of the trend.

I use Guppy moving averages in conjunction with the MACD indictor for trend determination, then I trade symmetrical triangles according to its classic trading rules. Trade objectives are based on the average true indicator (ATR).

Trading Setup

Preferred Time Frame: 5 Min
Currency Pairs: Majors + Currency crosses
Trading Sessions: Euro and US
Used Chart Pattern: Symmetrical triangle

Download link:

Click here to download the Guppy Symmetrical Triangle Forex Trading Strategy

Forex Indicators:

Guppy Multiple Moving Averages : Download this indicator here.

MACD indicator with the default settings (12,26,9)

Utilizing Guppy Multiple Moving Averages To Determine The Trend

Add the RainbowMMA_01.mq4, RainbowMMA_02.mq4, RainbowMMA_03.mq4 and RainbowMMA_04.mq4 indicator to your Metatrader 4 charts. In case you use any other forex charting program, please add the following exponential moving averages to your charts:

Red colored EMA’s: default values (125,130,135,140,145,150,155,160,165,170,175,180,185,190,195,200)

Green colored EMA’s: default values
(78,82,86,90,94,98,102,106,110,114,118,122)

Trend Determination

Bullish Trend: MACD > 0 + All green exponential moving averages above the red’s and both up sloping >> BUY ZONE

Bearish trend: MACD < 0 + All red exponential moving averages above the green’s and both down sloping >> SELL ZONE

Rules For Sell Trades (see example below)

1) The prevailing trend is bearish. (all red EMA’s above the green EMA’s and both down sloping)
2) MACD < 0
3) A symmetrical triangle has formed on the chart.
4) The market breaks out to the downside of the chart pattern.
5) Open a short position at market on the close of the bearish break out bar.
6) Initial stop loss set at 1 pip above the most recent swing high.
7) Trade objective: 30-50% ATR (Average True Range)

Example – Guppy Symmetrical Triangle Forex Trading Strategy, EUR/USD 5 Min Chart

triangle-pattern-forex-stra

The chart above illustrates how to properly trade a symmetrical triangle pattern in a down trending market.

We enter short at 1.3319 and place our stop loss 1 pip above the most recent swing high, which is 1.3332. Our target is 50% ATR, or down 79 pips from entry. Additional entry: aggressive traders may enter a short position in the vicinity of the descending trend line around 1.3230.

How did the Euro/Dollar short trade work out?

triangle-pattern-forex-strategy2

Rules For Buy Trades

1) The prevailing trend is bullish. (all green EMA’s above the red EMA’s and both up sloping)
2) MACD > 0
3) A symmetrical triangle has formed on the chart.
4) The market breaks out to the upside of the pattern.
5) Open a long position at market on the close of the bullish break out bar.
6) Initial stop loss set at 1 pip below the most recent swing low.
7) Trade objective: 30-50% ATR (Average True Range)

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