Potential Breakout?
Here I've drawn both, An ascending triangle & a bullish pennant.
Ascending Triangle: 5 touches of this resistance line, with price noticeably tightening up and converging more and more after each touch. After the 3rd touch (failed break out) you see price really bunch up at the top, and volume lessen, which makes me anticipate a...
Price Broke up through, after creating a Bullish Pennant.
It's pull back caused me to draw a bullish retracement, Which highlighted the retrace currently sitting on the .618 fib line.
Due to both the decrease in volume (signalling a readiness of price explosion), & the fact that the .618 is such a strong indicator. I am lead to believe that a strong bullish...
