symmetrical triangle has form, there is no clear trend or direction in the price. Price is bound by two slanted support and resistance lines. Once the price reaches the apex of the the triangle, a breakout typically occurs but its direction is unknown. must pay attention to possible false breakout. Now must wait for the price to breach the triangle boundary and the following price increase. the retest occurs when the price pulls back to the original breakout price. therefore, we place a buy order just above breakout price.
Trade active
just like mentioned above a fake breakout happened fallowing by a breakout to the upside, If 8,700 support level holds we will be seeing prices at 10,000 soon fallowing by 11,800Note
first target 10k has been met now 11,800Trade closed: target reached
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.