BAND appears to be looking for the bottom trendline of the triangle. When it reaches the bottom trendline, it could break down, or turn around and go back up.
Long entry would be around 183.16ish..short entry would be at break of bottom trendline. Throwbacks happen and it may not break the full width of the triangle's back end. BAND has broken up then a throwback occurred.
Triangles are a contraction as well as a consolidation pattern and are neurtral until a break of the upper or lower trendline occurs and a trend one way or the other is confirmed. Breakouts on increased volume perform the best. Throwbacks hurt performance.
5 touches noted, the 6th would be the bottom trendline. Triangles are opposite of broadening wedges like a megaphone.
No recommendation.
Long entry would be around 183.16ish..short entry would be at break of bottom trendline. Throwbacks happen and it may not break the full width of the triangle's back end. BAND has broken up then a throwback occurred.
Triangles are a contraction as well as a consolidation pattern and are neurtral until a break of the upper or lower trendline occurs and a trend one way or the other is confirmed. Breakouts on increased volume perform the best. Throwbacks hurt performance.
5 touches noted, the 6th would be the bottom trendline. Triangles are opposite of broadening wedges like a megaphone.
No recommendation.
Comment:
The targets are IF triangle was to break to the upside (o: