Take Profit 1 at the at the same price distance as the Triangle Height, Take Profit 2 at 2xTriangle Height
The textbook profit target for any type of triangle is the height of the triangle projected in the direction of the breakout from the breakout point.
Now you might be asking yourself, "What is the triangle height?"
We need to work with the triangle parameters to calculate the triangle pattern height. By measuring the distance between the highest point formed within the Symmetrical Triangle and its lowest point, we obtain the triangle height.
The textbook profit target for any type of triangle is the height of the triangle projected in the direction of the breakout from the breakout point.
Now you might be asking yourself, "What is the triangle height?"
We need to work with the triangle parameters to calculate the triangle pattern height. By measuring the distance between the highest point formed within the Symmetrical Triangle and its lowest point, we obtain the triangle height.