SAMT Blog
Chartist Triangles by The Wolf of Zurich
12. January 2024, by James Touati
Technical Analysis, Education
Today "The WOOZ" has decided to give you a little Master Class on CHARTIST TRIANGLES in Trading. Small reminder for some, not to be neglected, because according to my experience, the chart figures work between 65 and 70%.
ASCENDING TRIANGLE by James D.Touati.
- Identify the levels where the price has often closed and opened (black line).
- The price is making higher and higher lows.
- Draw a bullish diagonal.
- Take Profit is calculated by plotting the lowest increase on the black line (see graph).
- Report this segment to the BREAK of the black line, but ESPECIALLY to the CLOSING of the candle in its time unit!!!
DESCENDING TRIANGLE by James D. Touati.
- Identify the levels where the price has often closed and opened (black line).
- The price makes higher and lower highs.
- Draw a bullish diagonal.
- Take Profit is calculated by plotting the highest drop on the black line (see graph).
- Report this segment to the BREAK of the black line, but ESPECIALLY to the CLOSING of the candle in its time unit!!!
SYMMETRICAL TRIANGLE by James D. Touati.
- The triangle of indecision, just like the RANGE!!
- The price is tightening, and we don't know in which direction it's going PETER!!??
- Draw a bullish and bearish diagonal.
- Wait for a break in one of the diagonals.
- The Take Profit is calculated by reporting the highest side of the rectangle which made a PULLBACK (see my old publication on “PULLBACK”) and see graph below.
- Report this segment to the BREAK of one of the diagonals, but ESPECIALLY to the CLOSING of the candle in its time unit!!!
- STOP Loss below the previous low if you are BUYING.
- STOP Loss above the previous high if you are SHORT (Seller).
I hope you enjoyed this technical publication and helped you.
Happy trading everyone.
“PAKA PAKA!” »
James D. Touati aka “The Wolf of Zurich“
Head of Zurich Chapter SAMT
Swiss Association of Market Technicians
For more information, you can contact me on the following networks:
LinkedIn: http://linkedin.com/in/james-d-touati-941a8ba6
Tradingview: https://fr.tradingview.com/u/james-samt/
About the author
James D. Touati aka. The Wolf of Zurich is a French trader specializing in futures and CFD trading, a technical analyst and stock market trainer. In a pursuit of earning a living from trading, he has developed a profitable trading method successfully, consisting of a mix of tick data, Ichimoku, Fibonacci retracements, levels and Wolfe Waves.
credits: The Wolfe Wave pattern was originally developped by Bill Wolfe from New York. More information on his website.
James does not only speak 5 languages fluently (French, English, Russian, Spanish, Arabic), but with his solid industrial experience (former CEO JB aviation (Hong Kong), former Chairman M9 global group (link PETRONAS), former Partner CHINESE BUSINESS CLUB (Paris) he is a proven global entrepreneur as well.
Furthermore he has got a background as an intermediation and interconnection specialist for the oil&gas and the aviation industry in the Middle East and East countries.
Disclaimer: All methods, techniques, charts, analysis or results presented in this SAMT Blog are for educational purposes only. The information provided should not be construed in any way as a recommendation to buy or sell any financial instrument. You should always consult with your licensed financial advisor and tax advisor to determine the suitability of any investment to your particular financial situation. The author does not have a position in mentioned securities at the time of publication. Any opinions expressed herein are solely those of the author, and do not in any way represent the views or opinions of any other person or entity. SAMT and its affiliates, directors or agents will not be held liable or responsible for your investment decisions.
SAMT nor any of its affiliates, directors or agents are a financial advisory service, nor a licensed financial advisor and do not provide financial advice whatsoever in any financial product.
Further it should not be assumed that any methods, techniques or indicators presented will be profitable or that they will not result in losses. Past results of any individual trader or trading system presented are not indicative of future returns by that trader or system, and are not indicative of future returns which may or may not be realized by you.
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