There is no secret anymore that according to the Elliott Waves Theory there are a multitude of triangles to be found in technical analysis. Consolidation is key in trading as markets are spending more than 65% of the time in consolidation areas and therefore being able to understand how markets are consolidating offers you a competitive advantage.
Binary options trading can be done on any financial product but a lot of possibilities are being given by the currency market, or the forex (foreign exchange) as it is being also called.
Because this market is opened 24 hours a day, basically the possibility for expiration dates on any option are unlimited, especially if your broker allows you to build your own option, in the sense that are brokers out there that are offering an in-build option in the trading platform where the trader can build an option according to its own specifics.
Forex market is extremely volatile and this is why this type of a triangular formation is extremely common. In short, such a pattern, if bullish, requires the end of the triangle to come above its beginning, and if bearish, its end to come below its beginning.
It is extremely rewarding because it is appearing at the end of complex corrections, so knowing when such a triangle is broken allows you to set the proper expiration date based on the time frame the triangle appeared on.
We have a clear example on the gbpcad pair, so if you want to find out more about how to trade binary options using running triangles, please feel free to watch the two recordings that are coming with this mini-educational series.