Symmetrical Triangle Pattern
Updated
Here we have a symmetrical triangle that is preceded by an upward trend, and as such the price will continue to move between the trendlines until breakout.
Expecting a breakout during the next week...
Although, at this point, the eventual breakout direction does not need to be predicted. As such, EP should be executed when the price moves beyond the bounds of the triangle.
Stay tuned.
Expecting a breakout during the next week...
Although, at this point, the eventual breakout direction does not need to be predicted. As such, EP should be executed when the price moves beyond the bounds of the triangle.
Stay tuned.
Note
My symmetrical triangle is starting to look more like a descending triangle giving a bearish signalWatch out once the price breaks out, it might fall below, resuming the downtrend.
Don't buy yet, price is still in a congestion phase. Wait for the breakout.
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