On the graph, there is the triangle pattern, one of the most wide known phenomenon in forex trading, which makes it one of the most reliable strategy as well: waiting for the break through and opening position in the appropriate direction of the breakthrough.
Good risk reward ratio:
Good risk reward ratio:
- If Long then we can put stop loss at around 1.1659 and take profit at 1.2338 --> R/R ratio of roughly 2.5
- if Short then we can put stop loss at around 1.2055 and TP at 1.1198