When a Symmetrical Triangle Pattern Fails, What to Do
Don't mind the audio quality & the background noise I didn't plan this just decided to share.
One of the ways I figure out why a pattern fails and while my stop loss hit I fix it and make sure I recover it and even more sometime. Yea I know its not good to have that mentality of "I must recover, I can't take a loss" but as a professional you can fix it right on spot and that is why I'm sharing this for the beginners and even professional that do not know about this.
As you can see on the chart the 1st symmetrical pattern was forming so I thought this is it but unfortunately after the so called breakout (which I thought) it didn't succeed I took some loss the when I saw a potential Flag Pattern forming I thought yes, this is my chance, it's happening, I would take a long immediately after breakout but again I was wrong, the 2nd lager Symmetrical Triangle is forming so when I finally figured it out I knew where exactly the next move and I took it. I recovered from the first loss and made extra, cool.
One of the ways I figure out why a pattern fails and while my stop loss hit I fix it and make sure I recover it and even more sometime. Yea I know its not good to have that mentality of "I must recover, I can't take a loss" but as a professional you can fix it right on spot and that is why I'm sharing this for the beginners and even professional that do not know about this.
As you can see on the chart the 1st symmetrical pattern was forming so I thought this is it but unfortunately after the so called breakout (which I thought) it didn't succeed I took some loss the when I saw a potential Flag Pattern forming I thought yes, this is my chance, it's happening, I would take a long immediately after breakout but again I was wrong, the 2nd lager Symmetrical Triangle is forming so when I finally figured it out I knew where exactly the next move and I took it. I recovered from the first loss and made extra, cool.