The symmetrical triangle that followed the upward curve has just broken, signalling a possible trend continuation pattern. Bullish gold?
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...
EURUSD is currently rallying with a second impulsive wave toward the top of the declining channel. The pair may see some resistance at these levels as wave-(c) did not surpass the start of wave-(a) and a sideways symmetrical triangle may be underway prior to the continued rally. The channel resistance may add to the bearish bias at these levels. I am still...
I'm new to forex, and this was my first attempt at analysis on this pair. I decided to (theoretically) short yesterday after the pair hit a key daily/weekly resistance area and failed to break through. This together with the fairly symmetrical triangle formation printing added further to my believes that the pair was due to fall. I'm still in the early days of...
After a rough bearish market on FRA40, prices are consolidating in a triangle that can be seen on the chart. Since it is a symmetrical triangle, prices can go either way: - Fra40 would rally 170 points, should it breakout the higher edge of the triangle. - Fra40 would go south 170 points, should it breakout the lower edge of the triangle. The daily Pivot...
Currently, symmetrical triangle breakout move confirms the down trend as it has also made Lower Highs and Lower Lows (marked in red), which denotes change in trend. MACD is also turns in negative as well as AO. - confirms downtrend too. Therefore, due to above confirmation, I would recommend to short this one for the initial target for 2264 SL2450 and duration...
Wait until it breaks out of the pattern to determine upward or downward movement. 54% breakout upward. After breakout, watch for a busted reversal and jump on the swing for larger movement. The news also seems to be pointing to an upward breakout. For upward breakouts, target price is $30.51. For downward breakouts, target price is...
I'm guessing there's going to be a nice breakout coming up. Any opinions? I'd like to hear what others think.
SELL SAIGNAL FOR LONG TERM . POTENTIAL RETURN TO 1/15 TARGET PATTERN DOUBLE TOP TARGET RECTANGLE OR SUPPORT ZONE CLASH TO LINE OF UP TREND IN LONG TIME Please note TO NEXT analysis. MORE DETAILS TO CHART THANKS
Hello Traders, Here we have a VALID SYMMETRICAL TRIANGLE on FX:USDCAD , which has formed within the consolidation zone. We have been in this consolidation for the past 15 days and this probably has to do with the upcoming Fed interest news this Thursday. Everyone is just trying to be on the safe side and the direction will probably be more clear after the Fed...
Hello Traders, Here we have a SYMMETRICAL TRIANGLE on FX:USDJPY , that is formed when neither buyers nor sellers are strong enough to get into a clear trend. Therefore it is considered as a consolidation type pattern. I have labelled targets for both BULLISH and BEARISH breakout, but personally I would favor the BULLISH breakout, due to its direction...
Hello Traders, Here we have a VALID SYMMETRICAL TRIANGLE on FX:NZDJPY that is formed when market is putting in lower highs and higher lows. This give us a signal that neither BUYERS nor SELLERS are able to push the price far enough to make a clear trend. This can also be referred to CONSOLIDATION , since the market movement is limited between the top...
Hello Traders, After seeing FX:GBPUSD consolidate within a range for the past 30 days, we have gotten the emergence of 3 Simple Chart Patterns that could present us with good opportunities to LONG on this particular pair. I have color coded all 3 Chart Patterns in the chart above, just to make it visually easier for everyone. I will walk you guys through...