Symmetrical Triangle, Upside Break-out or Fake-out?

17 Jun 2018

Here we have a classic symmetrical triangle which is usually a continuation pattern but occasionally, albeit seldom is a reversal. Symmetrical triangles need at least two high points and two low points to be valid, so it would appear that we have a break-out to the upside which would take us up to ~7105. That being said, I have my doubts that the break-out isn't really just another fake-out. Volume didn't increase and the break-out has stagnated. break-outs are usually confirmation yet it doesn't seem as if anyone bought it. This is incredibly risky to trade here folks and likely wouldn't be worth the risk/reward. If this is actually manipulation, I expect the price action to turn and head towards ~5800. For now, let's wait and see if there is more uncertainty or further confirmation.

This isn't financial advice it's just my opinion, feel free to share yours.

Cheers!

24 Jun 2018

Dagangan ditutup: sasaran tercapai

Target reached. Will be doing new analysis