XRPLong
symmetrical triangle ?
The symmetrical triangle is identified by two trendlines: a descending upper trendline connecting lower highs and an ascending lower trendline connecting higher lows.
These trendlines converge toward a single point, known as the apex.
The breakout typically occurs before the pattern reaches the apex, often between 50% and 75% of the way through the triangle's formation.
The expected price movement after the breakout is estimated by measuring the triangle's height at its widest point and projecting this distance in the direction of the breakout.
The symmetrical triangle pattern is a powerful tool for traders. When combined with thorough analysis and risk management, it offers valuable insights into potential breakout points and price targets.
These trendlines converge toward a single point, known as the apex.
The breakout typically occurs before the pattern reaches the apex, often between 50% and 75% of the way through the triangle's formation.
The expected price movement after the breakout is estimated by measuring the triangle's height at its widest point and projecting this distance in the direction of the breakout.
The symmetrical triangle pattern is a powerful tool for traders. When combined with thorough analysis and risk management, it offers valuable insights into potential breakout points and price targets.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.