Symmetrical Triangle forming on Bitcoin!?!
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Symmetrical Triangles is an another type of triangle chart pattern used by traders. Again like ascending and descending triangle it takes few weeks to few months for this type of pattern to be formed.
This pattern also consist of four parts:
1. Lower Ascending trend-line: It forms the support and generally have at-least two points, more the better.
2. Upper Descending (falling) trend-line: It forms the resistance in the pattern and have at-least two points, more the better.
3. Base: It is the vertical line drawn between lower trend-line, at which the pattern started to the trend-line opposite to it. The value of base is used to keep the minimum target amount.
4. Apex: It is the point where lower Ascending line and upper Descending line meets. Some traders used apex as the time in which the minimum targets is achieved.
Thanks, LiquidMEX
DISCLAIMER:!!!This is not to be considered financial advice is my personal opinion, always do your own research before entering or exiting trades as i will not be held liable for any of your trades!!!
Symmetrical Triangles is an another type of triangle chart pattern used by traders. Again like ascending and descending triangle it takes few weeks to few months for this type of pattern to be formed.
This pattern also consist of four parts:
1. Lower Ascending trend-line: It forms the support and generally have at-least two points, more the better.
2. Upper Descending (falling) trend-line: It forms the resistance in the pattern and have at-least two points, more the better.
3. Base: It is the vertical line drawn between lower trend-line, at which the pattern started to the trend-line opposite to it. The value of base is used to keep the minimum target amount.
4. Apex: It is the point where lower Ascending line and upper Descending line meets. Some traders used apex as the time in which the minimum targets is achieved.
Thanks, LiquidMEX
DISCLAIMER:!!!This is not to be considered financial advice is my personal opinion, always do your own research before entering or exiting trades as i will not be held liable for any of your trades!!!
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