Chartism Trading Challenge

Monday: Launch of the Challenge

Today's mission: Understanding Chartist triangles
Today, we'll start by laying the foundations by discovering what a chartist triangle is, how it's formed, and how it can be used to identify trading opportunities.

Tasks to be performed :

1. Reading and Podcast :
   • Read a detailed article explaining the three types of triangles: symmetrical, ascending and descending. Learn how these figures reflect market consolidation and preparation phases prior to a directional move.
   • Listen to a podcast that describes practical examples of how triangles are used in trading.
2. Configure your graphics :
   • Manually draw symmetrical, ascending and descending triangles on historical charts (e.g. EUR/USD or S&P 500).
3. Observation:
   • Identify recent examples of triangles on different assets and note how the price behaved after the break.

Tuesday to Thursday: Analysis and Strategy

Three-day mission: Identify triangles and test your strategies

Tuesday: Find triangles on graphs

Today, focus on detecting symmetrical, ascending and descending triangles in real time or on recent data.

Tasks to be performed :

• Identify triangles on different time horizons (H1, H4, D1) to understand how the duration of the formation impacts the volatility of the break.
• Note if volume falls during the formation of the triangle, a key signal which often precedes a break.

Wednesday: Building a trading strategy based on triangles

Today, we're going to create a strategy that takes advantage of triangle breaks to enter and exit the market.

Tasks to be performed :

• Develop clear rules for entering positions after a triangle breakout, based on the direction of the breakout and confirmation by increased volume.
• Set your stop-loss slightly beyond the opposite edge of the triangle to limit risk in the event of a false signal.
• Integrate indicators such as the RSI or MACD to reinforce your signals.

Thursday: Backtesting and adjusting your strategy

Today, we're going to test your strategy on historical data to understand its effectiveness and improve it if necessary.

Tasks to be performed :

• Backtest the last 3 weeks, applying your strategy to symmetrical, ascending and descending triangles.
• Compare the results obtained on different types of triangles and adjust your criteria if necessary.

Friday: Final Practice

Mission for the day: Execute trades based on chartist triangles
This is the time to put your knowledge into practice by using these figures in real market conditions.

Tasks to be performed :

• Spot a triangle in real time on your favorite assets and wait for a confirmed break to enter a position.
• Stick to your established rules, including stop-loss and take-profit placement.
• Record your observations and decisions in a trading journal to evaluate your performance.

Saturday: Review and Adjustments

Today's mission: Analyze results and optimize your strategy
Today, we're going to take a look at your trades and determine what worked and what didn't in your analysis and execution.

Tasks to be performed :

• Review your Friday trades, checking that you've drawn the triangles correctly and anticipated the breaks.
• Identify any errors or necessary adjustments, such as stop-losses that are too tight or entries that are too early.

Sunday: Taking stock and sharing

Today's mission: Take stock and share your results
To close this challenge, you'll write a summary of your week and share your experiences with the community.

Tasks to be performed :

1. Summary :
   • Write a summary of your week, highlighting the most effective triangles and your results.
   • Note what you could improve for future trades based on chartist patterns.
2. Share :
   • Post your results and thoughts on social networks using the hashtag #xenesy and tagging @xenesy_project. Engage in discussion with other participants to exchange ideas and feedback.

Conclusion

This Chartist Triangle Challenge has helped you understand an essential pattern for anticipating breakouts and mastering consolidation phases. By continuing to practice and hone your skills, you'll be able to use these patterns to dramatically improve your trading performance.

Good luck to you all, and see you soon for a new challenge on the financial markets!