Pattern Recognition with Short Term Trading

TurboXBT is a new platform that provides traders with a high-profit potential by trading synthetic digital assets on a short-term contract basis.

Our straightforward layout is effortless to use for people of all experience levels. On one screen, users can trade 17 supported assets including Bitcoin (BTC) and Ethereum (ETH), and leading indexes like the S&P 500, Nasdaq, and GER30.

Crypto traders on TurboXBT look to get the most out of short-term trading. Alongside our user-friendly interface we provide, we also offer the best trading analysis tools.

Here’s a breakdown of the trading patterns available on our platform.

Types of Crypto Trading Patterns

Understanding trading patterns begins with searching for shapes like triangles and rectangles in the traded asset prices.

Recognizing these shapes is the most useful ability you can develop as a trader. Day traders can use pattern recognition as a foundation for their trading techniques, and it can be applied in several instances.

Here are the common patterns to look for when trading on our platform.

Ascending triangle

Perhaps the most well-known trading pattern in this category is the rising triangle. It uses a resistance line and a rising support line. The critical components of this formation are the two red lines denoting resistance and uptrend. You should watch trade volumes during the pattern’s creation and how they change following a breakout.

Descending triangle

The descending triangle is the polar opposite of the ascending triangle discussed above. It shares many qualities with the ascending triangle, but it moves in the opposite direction. As with the ascending counterpart, the breakout can occur in either direction. Therefore you must pay close attention to the direction of the breakout.

Rectangle

The rectangle layout indicates where the two layers run parallel to one another. Although the trade pattern does not resemble any of the triangles, the setups, breakouts, and risk management are relatively comparable.

Flag

The flag appears following a significant price fluctuation. This near-vertical price movement serves as the ‘flag pole’ on which the flag pattern appears. You will likely notice an increase in volume on the breakout.

Conclusion

Once you know how to identify these, you increase your chances of making profits on our platform. We hope that this guide has given more insight into trading.