When it comes to Forex trading in Kenya, it is always about identifying the right pattern and opening the right position. To identify the right patterns in forex, it is always important to have a look at the charts and look for continuation patterns. Continuation patterns are those that indicate that a particular trend is likely to follow this pattern for a duration of time on the market.
These trends are used by traders to track and predict the right moment to either enter or exit a trade. While there are several kinds of continuation trends like waves and wedges, the most commonly studied continuation trends are the triangular continuation trends. You can get more info about forex trading in Kenya via various online resources.
Called Triangles, these help traders determine the nature of the market in the immediate future based on its recent past. Triangles can be considered as horizontal trading patterns. They are used to predict the sideways patterns of trades. Much like a triangle, they have a wide opening, two sides and continue to slope towards a single point.
The lower side of the triangle, also known as high-lows, represents the demand for a particular trade on the market. It represents the point where buyers outpace the sellers and look to enter the market. The upper side of the triangle represents the supply line where investors are leaving the market after closing the trade. The trade falls beyond this point.