As per setup, 4 short positions (Red lines) opened as per triangle - 43331and 4 Long positions (Black lines) opened as per triangle - 41191 exists.
In between stop losses and positions reopening are there when the price bar hits the lines.
I just want to trade with a system which do not predict the market.
I request hedging experts to tell me whether this system can generate consistent profits over time.
Thanks in advance.

The first level buy closed with a profit.

There is no hedging in this system, because this term means opening an opposite transaction on another instrument.
Your system will give a loss over a long time period due to the negative mathematical expectation that is always trading inside the range.
Better options to open deals in the picture: when the price breaks through all 4 lines at once from outside the range. In this case, one can hope for a positive mathematical expectation and profit over long time distances.

P.S.
There is only one profitable hedging scheme in forex. On two currencies and their cross rate.
These are arbitrage trades, because the system profits from the time lag in currency movement: crosses often begin to align with their currencies with a time delay. To identify it, you need to follow the price deviations of three instruments at once, these deviations reflect the time lag.
There are no other hedging methods in Forex

The second third and fourth buy positions closed. Shorts are carried.
The positions are entered when the triangles are formed.
kindly check.
Hedging here I mean, having opposite positions in the same instrument.

annadurai wrote: Fri Jan 21, 2022 8:51 am The second third and fourth buy positions closed. Shorts are carried.
The positions are entered when the triangles are formed.
kindly check.
Hedging here I mean, having opposite positions in the same instrument.

It is not clear why you buy when the triangle is signaling down?

Opposite side Buy triangle formed but it is ignored as you can see the support is continuously broken ( black lines continuing).
New lows are being formed.

Looks bottom is made.
The previous triangle disappeared.
waiting for new triangle formation.

annadurai wrote: Fri Jan 21, 2022 9:01 am Opposite side Buy triangle formed but it is ignored as you can see the support is continuously broken ( black lines continuing).
New lows are being formed.

Triangles can be wrong.
You have broken all 4 black lines, this always happens on strong movements.
In the market, those who play breakouts make profits, and those who play bounces somewhere inward receive losses. So it has always been and so it always will be. That's the math of money

Look at 41191 triangle, when the price moves up, the four-level buys are done there, when the price bar hits the levels we exit and again price moves up, we buy again until the buy triangle was followed by the formation of the sell triangle. Once the sell triangle is formed, we don't buy and look for exits. We exit when the falling price bar hits the buy levels, here I mean lines. We create shorts only.

Yes, Triangles may form and disappear. Hence we have positions on both sides. Let the price can go north or south. we always have longs and shorts. Where we exit and how we exit decide the profitability.