This ascending triangle has formed on the EURUSD chart.
A break out through the resistance looks like it has happened.
Now just to wait for the retest.
SL will be just under the resistance and TP will be the length of the largest point of the triangle.
Although we may take some profit before that happens to to guaranty our self some pips.
Ignore the arrows, that...
The usual breakouts for these triangles is within this box, 75% of the triangle is on the 22nd September. On the 23rd BAKKT launches.
Ive been assuming we trend sideways for 6 months, but i cant ignore this- I get the feeling a huge dump or pump is coming (NO IDEA WHICH) out of this traingle, I just found the BAKKT launch date all too convenient.
Time to buy a...
As per the analysis on screen this is what we are seeing:
- Break and retest of daily trendline
- Impulse and then a symmetrical triangle formed on the 1HR / 4HR
We are now waiting for a lower time frame break and retest of this pattern for a sell.
Following reversal around .25 we see a triangle pattern being formed.
24/12/18 we saw a breakout with a new high around .273
Pullback saw resistance at .267 become new support.
Here we buy expecting a long breakout.
Target 1: 1.27
Target 2: 1.273
Target 3: 1.28