A number of trade possibilities on this symmetric triangle. I personally would be bearish USD fundamentally, so look for downside breaks to trigger an extended move down.
Breaks to the upside will also provide excellent opportunities for a short-term trade.
My opinion on gold is
1. It would make a good buy position now, and
2. it makes a good hedge for a portfolio.
The reason I think it has upside potential is due to the dwindling investor sentiment in central banks' ability to drive inflation through monetary policy. For this reason, I think that the coming few quarters will see investors buying into gold as both...
The symmetrical triangle pattern on daily chart of AUD/JPY presents a possibility for a bullish breakout. The pattern's top and bottom borders are shown with the yellow lines. My potential entry level is marked with the cyan line. My potential exit level is the green line. Stop-loss is to be set to the low of the breakout bar (not shown).
More information, chart...
Quite a solid symmetrical triangle forming here and getting very close to the apex.
Profit targets based on previous structure. (Zoom out to see lower target structure.)
Trade a close outside the triangle.
Its Time to Go For Some Good Pips ,this trade have an excellent risk reward ratio,the trend in w chart is bearish ,now in Daily its look like a symetrical triangle .
6 hit points on the triangle. Expect a 7th and then a break to the downside at the 8th.
Profit target indicated by green line.
(I will also buy a break to the upside.)
The symmetrical triangle pattern on D1 chart of XAU/USD offers an opportunity for a bullish breakout. The pattern's borders are shown with the yellow lines. The potential entry level - with the cyan line. The potential take-profit level - with the green line. Stop-loss is to be set to the low of the breakout bar (not shown on the chart).
More information, and an...
Symmetrical triangle has been forming on the AUDNZD pair for 3 months now.
5 strong hit points .
Look for a break to the upside at hit point 6 or a break to the downside at hit point 7 after hit 6.
Profit targets are clearly indicated by green lines and are based on previous structure. The top profit target is unlikely but very hopeful if we get a break...
Very strong symmetrical triangle formation.
6 hit points getting closer and closer as the market approaches the apex - good sign for a strong breakout.
By the upside, sell the downside.
Profit targets indicated by the horizontal green lines.
There are a number of ways this trade could play out:
1. Triangle and long-term resistance breaks at touch point 7 of the symmetrical triangle. Would place an initial profit target at $34.80 and then at $38, and if this target was reached I would consider holding this position for a prolonged period of time.
2. Triangle breaks at touch point 6 to move into a...
A Valid Symmetrical triangle formation with more than 3 touches on upper trendline and 2 touches on lower trendline kindles our interest to watch this for Breakout Direction.
Almost from start of this week GBPUSD consolidating within the triangle and with the volume decline, Am expecting a breakout soon.
Hit Likes for Agree...
Comment your Views...
Happy Trading !
Approaching the apex of the symmetrical triangle drawn here. I am hoping for a break out to the downside at point 7. I would then expect a pullback at previous structure, and then have a main profit target at strong levels of previous structure.
The upward break at point 6 is also potential for a small trade.
EURUSD is nearing the completion of wave-(e) of a possible contracting triangle that could mark the end of wave-(2) before the three-of-C breakout. Entry at AB=CD inside of wave-(e) is confluent with the completion of a bullish cypher and may act as a catalyst for the bullish impulse. Long term target is placed at A=C. It is possible that another rebound off...
