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Mattwhitty

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02/03/19

12:44

Post #: 37629991
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Originally posted by specgoldbug: ↑

Monthly chart- where the dark magic lies Ascending triangle

View attachment 1463985

https://www.dailyfx.com/forex/educa..._Patterns_Every_Forex_Trader_Should_Know.html

LEARN FOREX: ASCENDING TRIANGLE WITH BREAKOUT

View attachment 1463989

Similarly to the symmetrical triangle pattern, traders enter short on a break below the bottom of the pattern with a stop approximately 10 pips above the top of the high with a profit objective equal to the height of the pattern. However, if price rallied above resistance, a stop would be placed below the highest low within the pattern with an additional cushion of approximately 10 pips.

The last triangle pattern is the descending triangle pattern. The descending triangle is characterized by an area of strong support intersecting a downward sloping trend line. When chartist see this pattern as part of a larger downtrend, they look for a continuation of the downtrend. A close break and close below the area of support would be a confirmation of this pattern signaling traders to enter short with a stop above the top of the pattern.

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thx Goldy!

I’d love some consistently higher volumes so that we could really be confident in the breakout!

It suggests it’s coming, from a technical perspective and if the company politics goes in our favor, the breakout will be quite incredible.

The monthly’s are primed to blow, should volume increase..

RES Price at posting: 7.4¢ Sentiment: Hold Disclosure: Held
4 Upvote

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Chart, page-64

Top Stories

InhaleRX gains approval for clinical trial to test non-opioid therapy for cancer pain

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