CFR – Multi-Year Symmetrical Triangle Setting Up
CFR has been coiling inside a large symmetrical triangle for ~3.5 years now. Price is compressing well, and volatility continues to contract.
Key is a clean move above 147.64. That’s the breakout trigger.
My base case: we likely get a bit more chop and compression in the 135–147 range before any decisive move.
If/when we get a clean break above 147.64, the measured move targets come into play (marked in blue):
First target: conservative projection
Second target: full extension based on triangle height
A potentially great swing trade imo.
CFR has been coiling inside a large symmetrical triangle for ~3.5 years now. Price is compressing well, and volatility continues to contract.
Key is a clean move above 147.64. That’s the breakout trigger.
My base case: we likely get a bit more chop and compression in the 135–147 range before any decisive move.
If/when we get a clean break above 147.64, the measured move targets come into play (marked in blue):
First target: conservative projection
Second target: full extension based on triangle height
A potentially great swing trade imo.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.