Bilateral chart patterns are a bit more tricky because these signal that the price can move EITHER way.
What kind of a signal is that?!
A bilateral signal.
This is where triangle formations fall in.
Remember when we discussed that the price could break either to the topside or downside with triangles?
To play these chart patterns, you should consider both scenarios (upside or downside breakout).
And place one order on top of the formation and another at the bottom of the formation.
If one order gets triggered, you can cancel the other one. Either way, you’d be part of the action.
Double the possibilities, double the fun!
The only problem is that you could catch a false break if you set your entry orders too close to the top or bottom of the formation.
So be careful and don’t forget to place your stops too!
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