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Rectanglebreak

GBPJPY D1- Continue Rectangle or Bullish Dragon Pattern?GBPJPY D1- Continue Rectangle or Bullish Dragon Pattern? Currency Pair: GBP.JPY Time Frame: Daily Predicted Direction: Neutral - Price bounced several times within PCZ Entry: I will open Sell if the price will make breakdown of @138.74 (SL = @141.41, TP = @130.59) I will open Buy if the price will make breakout of @141.41 (SL = @138.74, TP = @148.73) GBP.JPY updates will be available in the comments section below. The brief trade analysis presented above is my predicted direction and requires multiple different indicators and confluence factors prior to validating a trade opportunity.
by erbe
XAUUSD - H1 - Prediction Bullish Rectangle PatternXAUUSD - H1 - Prediction Bullish Rectangle Pattern @ Trade: A trade setup occurs when a price closes outside the trend line after at least two penetrations on each side of the boundaries. Trades are entered on a follow-up bar at "high above the breakout bar or "low" below the breakdown bar. Potential Entry Line at @1230.13 Target: Targets in "Rectangle" formations are based on the depth of the rectangle pattern. The pattern is reliable, and targets are usually set at 70 to 100% of the depth of rectangle from the trade entry. at @1236.61 Stop: Rectangle patterns fail when prices retrace in to the middle of the rectangle channel. Place a "stop" order just below/above the middle of the channel. at @1226.75
FOREXCOM:XAUUSDLong
by erbe
Long Wheat on Technical Breakout from Rectangle PatternI went long on Wheat this morning in my paper account due to my original long commodity thesis. I am actively looking to add more commodity exposure to the portfolio, mainly because that's where I believe the outsized returns will come to home roost. On the weekly charts, wheat has broken through the rectangle pattern that spans back to August of 2017. I set my stop loss at 4.06, which if hit, would indicate a false breakout and an incorrect implementation of my bullish thesis at that moment. As always, let me know if you have any further questions or comments.
WLong
by BrandonBeylo