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People actually fall for this

  #6 (permalink)

Wiltshire, United Kingdom
Trading Experience: Beginner
Platform: Jigsaw daytradr
Favorite Futures: US Equity Index Futures
matthew28's Avatar
Posts: 699 since Sep 2013
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Agree with trendisyourfriend, it seems perfectly reasonable to me.
They are not saying price will go either way, they are suggesting that price is coiling in a tight range and if it breaks out I guess they are recommending one could enter with an entry stop just above or below the triangle, with an exit stop say back in the middle of the triangle, or tighter up to just back inside the triangle. And with this trade setup there should be enough momentum after a break from trapped traders so that if price does go there is a good risk/reward ratio to the first main resistance level or support levels at the recent spike high top or blue triangle low.

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