In Forex trading, the 15-minute chart shows great trade chances. This post looks at recent setups in major currency pairs and commodities. We focus on Triangles, Flags, and Rising Wedges.
We’ll check both winning and losing trades. We’ll look at key breakout points, price behavior, and how they did overall. These insights are great for day traders and pattern lovers alike.
Now, let’s dive into these setups and see how they did in real market conditions!
DISCLAIMER
Trading is a high risk activity, protect your capital through the use of stop loss, making intelligent use of leverage and not investing more than you are willing to lose. The author of the post declines any responsibility for any losses incurred as a result of decisions made after reading this article. The information contained below is for informational purposes only. CFDs are complex instruments, therefore adequate knowledge is required before making any investment. Thank you for your kind attention!
1. CHFJPY, M15 – Triangle (Sell Signal Break)
Trade Setup:
A descending triangle was seen, with lower highs and a horizontal support at 168.64. This pattern hinted at growing selling pressure, suggesting a likely breakdown.
Key Confirmation Level: 168.64 (break below support)
Pros of the Setup:
- Clear descending triangle structure.
- Price consolidated tightly before the break.
- Pattern formed in line with broader bearish sentiment.
Execution of the Trade:
The price fell sharply after breaking 168.64, confirming the pattern.
Pros:
- Strong breakdown with follow-through.
- Limited pullbacks post-breakout.
Cons:
- Volatility during consolidation could have caused early exits.
Overall Review:
This was a textbook triangle breakdown with a clear sell signal and strong momentum.
Rating: 8.5/10
2. EURJPY, M15 – Flag (Sell Signal Break)
Trade Setup:
A bearish flag emerged after a sharp drop (flagpole). The channel showed a consolidation before a further drop.
Key Confirmation Level: 159.76 (break below lower trendline)
Pros of the Setup:
- Well-formed bear flag.
- Consolidation aligned with the broader downtrend.
- Clear breakout level.
Execution of the Trade:
The price broke the lower channel, leading to a sustained bearish move.
Pros:
- Clean and strong breakdown.
- Immediate follow-through with minimal retracements.
Cons:
- Entry near resistance within the flag could have been risky.
Overall Review:
This was a high-quality flag setup with a powerful bearish continuation.
Rating: 9/10
3. CADJPY, M15 – Flag (Buy Signal Break)
Trade Setup:
A bullish flag followed a weak rise.
Key Confirmation Level: 107.76 (break above upper channel line)
Pros of the Setup:
- Classic bull flag structure.
- Strong preceding bullish impulse.
- Tight range before breakout.
Execution of the Trade:
The breakout led to a steady upward move.
Pros:
- Breakout provided clean entry.
Cons:
- Initial breakout lacked explosive momentum.
Overall Review:
This was a bull flag pattern with gradual bullish follow-through.
Rating: 4/10
4. Oil, M15 – Triangle (Sell Signal Break)
Trade Setup:
A symmetrical triangle formed after a bearish move, signaling consolidation. The breakdown suggested a continuation lower.
Key Confirmation Level: 70.49 (break below support)
Pros of the Setup:
- Clear triangle formation.
- Consolidation aligned with prior bearish trend.
- Tight price action near the support level.
Execution of the Trade:
The breakdown was decisive, but the sellers did not have the strength to push the price down even further.
Pros:
- Weak momentum after the breakout.
- Clean entry.
Cons:
- Choppy price action before the break might have tested patience.
Overall Review:
A reliable triangle pattern with weak downside follow-through.
Rating: 5/10
5. GBPNZD, M15 – Rising Wedge (Sell Signal Break)
Trade Setup:
A rising wedge developed after a brief rally, indicating weakening bullish momentum. The break below support signaled a bearish reversal.
Key Confirmation Level: 2.2001 (break below wedge support)
Pros of the Setup:
- Clear wedge structure with converging trendlines.
- Pattern formed after an upward move, increasing reversal probability.
Execution of the Trade:
The price dropped sharply after the breakdown.
Pros:
- Strong bearish follow-through.
- Clear breakout point.
Cons:
- Minor pullback post-breakout could have triggered tight stops.
Overall Review:
A high-probability wedge breakdown with solid downside momentum.
Rating: 10/10
Final Summary of Trade Reviews:
| Pattern/Asset | Signal | Rating |
|---|---|---|
| CHFJPY – Triangle | Sell | 8.5/10 |
| EURJPY – Flag | Sell | 9/10 |
| CADJPY – Flag | Buy | 4/10 |
| Oil – Triangle | Sell | 5/10 |
| GBPNZD – Rising Wedge | Sell | 10/10 |
These setups show how key pattern recognition and breakout confirmation are. The clear technical formations and strong follow-through on most trades highlight the reliability of classic patterns like flags, wedges, and triangles on lower timeframes.
Conclusion
Trading on the 15m timeframe is fast-paced. It requires quick thinking and knowing chart patterns well. The trades we looked at show how important it is to spot patterns and confirm breakouts.
Some trades made good profits, while others needed patience and careful management. This teaches us that even the best plans can fail. Markets can change fast.
Key Takeaways:
- Breakout Confirmation is Crucial: Waiting for the pattern to break key support or resistance helps reduce false entries.
- Momentum Matters: Breakouts with strong momentum often offer the best follow-through.
- Active Trade Management: Adjusting stop-loss levels and taking partial profits can protect gains during choppy price action.
By getting better at recognizing patterns and adapting to market changes, you’ll grow. This will help you make smarter trades.
Stay sharp, stay disciplined, and let the charts guide your next winning trade!
Check charts at tradingview.com