A clean chart .. sometimes works refreshing.
in the previous post, the symmetrical triangle looked slightly different.
looking at the day chart..
Because the lower high has now been moved a little higher (see the circles with arrows), a little more space has been created within the pattern.
I grabbed the Bollinger Band indicator to visually show that volatility has decreased, as shown by the contraction of the upper and lower bands (shown on the right of the chart as BB:Upper & Lower), as when we get near the APEX (the extreme point of the triangle / where the lines meet) a break out will take place.
Price targets are indicated in percentages and correspond quite nicely with the resistance/support lines. For both these are 2 targets, one is based on the bodies and the other on the wicks.
Keep calm, trade safe and manage your risk.
(Disclaimer: This is not financial advice)
in the previous post, the symmetrical triangle looked slightly different.
looking at the day chart..
Because the lower high has now been moved a little higher (see the circles with arrows), a little more space has been created within the pattern.
I grabbed the Bollinger Band indicator to visually show that volatility has decreased, as shown by the contraction of the upper and lower bands (shown on the right of the chart as BB:Upper & Lower), as when we get near the APEX (the extreme point of the triangle / where the lines meet) a break out will take place.
Price targets are indicated in percentages and correspond quite nicely with the resistance/support lines. For both these are 2 targets, one is based on the bodies and the other on the wicks.
Keep calm, trade safe and manage your risk.
(Disclaimer: This is not financial advice)
Tims.Technische.Analyse by TIMTIBBO
