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💡Ascending Triangle in GBPNZD- "Learn More Earn More" With US

FX:GBPNZD   British Pound / New Zealand Dollar
Ascending Triangle Definition:

An ascending triangle is a type of triangle chart pattern that occurs
when there is a resistance level and a slope of higher lows.

It is defined by two lines:

. A horizontal resistance line running through peaks.
. An uptrend line drawn through the bottoms.

The higher lows indicate more buyers are gradually entering the market
and buying pressure increases as price consolidates moving further towards the apex.

An ascending triangle is classified as a continuation chart pattern.

If price can break through the resistance level , that level will now act as a support level .

Breakouts can also happen in both directions. Statistically,
upward breakouts are more likely to occur, but downward ones seem to be more reliable.

In most cases, the buyers will win this battle and the price will break out past the resistance.But Sometimes the resistance level is too strong, and there is simply not enough buying power to push it through. Therefore you should be ready for movement in EITHER direction.

ENTRY:
We would set an entry order above the resistance line and below the slope of the higher lows.

TARGET:
Target is approximately the same distance as the height of the triangle formation.

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Comments

An absolutely correct strategy that should come with good profits.
+3 Reply
@Kamryn,Thanks for your comment 💎🙏💎 We appreciate it. All the best with your trades.📈
Reply
@Kamryn,Thanks for your comment 💎🙏💎 We appreciate it. All the best with your trades.📈
Reply
Cheers.
+3 Reply
ForecastCity Pro_Trader_007
@Pro_Trader_007, cheers
+3 Reply
I agree with your idea. I couldn't see that triangle pattern before I look at yours.
+3 Reply
ForecastCity Pro_Trader_007
@Pro_Trader_007, Thanks for your comments. 👍 We're glad you liked it.
+3 Reply
Lovely analysis, think this could be a goer!
+2 Reply
ForecastCity Kristalyn
@Kristalyn,  Thanks. We're glad you like it. 😊💚
Reply
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