The Only Forex RECTANGULAR CHART PATTERN You Ever Need | Simplified! FX216

The Only Forex RECTANGULAR CHART PATTERN You Ever Need | Simplified! FX216.
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The Meaning of the Rectangle Pattern in Technical Analysis
The rectangle figure is a trading pattern which can appear during bullish and bearish trends. The pattern consists of tops and bottoms, which are parallel to one another. The other key point to illustrate is that the highs and lows are all horizontal.
Steps to Trading the Rectangle Formation
Now that you are familiar with the pattern, let’s walk through how to trade the rectangle formation.

Step 1: Identify the Rectangle Pattern
To identify the rectangle pattern, you first need to find a trending stock that is experiencing a consolidation period.

You will need to identify a minimum of two tops and two bottoms that are horizontal with one another.

These two tops and bottoms will create the support and the resistance levels of the rectangular range.
TOP TIPS TO TRADE BREAKOUTS WITH THE RECTANGLE CHART PATTERN
Trading forex breakouts with the rectangle pattern is relatively straightforward. The following list summarizes what traders should do when entering a trade:

Identify pre-existing trend
Make sure that there are no longer-term/macro patterns in play before committing to the rectangle pattern analysis
Establish support and resistance by joining highs and lows within the ‘rectangle’
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