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Ascending

GBP/JPY, Ascending Triangle formingHey guys, The red line was the top of a Descending Triangle, and now the bottom of an Ascending Triangle indicating that this is a strong resistance point. Furthermore, most of the time the trend line side of a triangle breaks, so that's why I think the following pattern will happen. The purple line is the bottom of the Ascending Traingle and a possible turning point. If, you zoom out you can see a giant orange channel. Because, these channels sometimes work like a magnet it is even possible that the market will go back inside of this channel or bounce of it. Kind Regards, Khaine
by Wulvex
Eur/Usd 28-03-2017 (AP)Hello Dear Traders & Welcome To Growing Forex After The Major Downfall Back In 2015 The Pair Is Trading In A Consolidation With No Clear Direction.The Pair Is Forming A Double Zigzag As Of Now But Can Make Possible Move Of Triple Zigzag Correction.As You Can See In The Chart The First Wave Of Zigzag Correction Where Point C Falls Short To Complete Its Flat Pattern Therefore Indicating A Double Or A Triple Correction.(#Flat Correction#Wave C Falls Short Of Wave A #Indicating A Double Or A Triple Correction.)The X Correction Is A Zigzag Followed By Wave A Having A Zigzag Inside That Can Extend Up To 1.0978 Minor Resistance.If The Pair Breaks Above This Levels Next Target Would Be The 78.6% Of Swing High & Swing Low Which Is The Second Trend Line Above.On The Flip Side The Pair Can Triangle Correction (Flat + Any three + Triangle) But The Possibilities Are Less. Note: Try Creating Pockets. Note: Please Leave Comments For Any Query. Disclaimer: Trade At Your Own Risk. Good Luck, Regards, Growing Forex.
Long
by GrowingForex