The triangle is a trend continuation pattern. If it breaks to the upside we have a strong indication that the price will test the next PRZ (blue area.)
It's no secret that I really like watching out for triangle formations. I've also learnt not to trust them until the break has been confirmed, and based on the trend and SR lines I've added here I'm putting my money on a break around the 17th of March. Long or short, who knows, but either way it would be a good idea to grab a position earlier rather than later!
With the recent important news of Bitcoin touching gold, that might quite be a relevant long scenario at term. Watching for upward breakout.
GBPCAD Shows bullish MACD Divergence on the daily, based on three points, so we could expect an upmove. I'll post the daily chart in the comments. On the 4 hour (this chart), we can see a structure that would end up in a breakout. I'd say that the small flag (blue lines) would go down to retest the bottom blue line, and then it could break out to the upside. If...
The restriction of price movement is a strong indication of possible price breakout. Looking for possible short setup as indicated using the arrows on the chart. Definitely looking for price to break below 1.33679 level at which would indicate lower possible movements.
sorry for being late guys good divergence triangle break pattern with supply zone confluences with Fibonacci levels.,,,,
Hello Traders, I have observed Symmetrical Triangle pattern on GBPJPY daily chart. Price may break on either side. Please wait for price to break and close above/below triangle to enter into the trade. Happy Trading!!!
For the past few months price has consolidated in a symmetrical triangle pattern. After Friday's breakout, I will be looking for a retest and rejection to get in short on this pair. If these parameters are met, we could expect to see a big bearish run resume on GBPJPY
Short term consolidation Downtrend breakout Possible breakout triangle This is my general outlook on the pair. Will be looking for a nice reward risk setup during the upcoming week.
Again Breakout From TRIANGLE ZONE, Buy Moment.. Hope Keep Profit
The triangle has been broken This is a risky trade, the retracement after the break of the bigger strutucture is too low for me, I prefer retracements to 50 ~ 61.8%, so its quite possible that the price will test the previous structure on 50 ~ 61.8% of fibo.
- The price broken the triangle after rejecting the higher timeframe channel line - TP 1 on the 100% of the fib expansion - TP 2 on 161.8% aligned with previous structure low
Hola Guys, The price broke the triangle made up with T1 and T2. The market had a pullback on S3 pp and S2 support. Thanks for this pullback we made a test ceiling on T2. This for me is a Bearish signal and i'm gonna open a little trade. SL is 11640, it is also protected by S2 support and S2 pp . The TP area is the trendline T3. I forecast that the market will...
Symmetrical Triangle is observed on CADCHF. Price will test 0.79500 if it breaks and closes above support zone and a triangle.
Long position on $nzdusd with the breaking up. Close the position if goes down under 0,7229 level. Take Profit on 0,7394 under the resistance level.
Hi! At this point the price has broken above the larger triangle pattern - a bit early maybe - and we now have another smaller triangle forming. The technique i'd like to try here is adding to the trade with a smaller stop size (shown by the second long position indicatior and the blue arrows). What i'm going to do is, IF we break the small triangle higher, i...