A symmetrical triangle is a consolidation pattern.
It is often referred to as a Coil Pattern.
Here each price fluctuation is smaller than its predecessor.
Lower Highs & Higher Lows.
The process of contraction or coiling also has an effect on the volume.
Imagine a coil spring, the more you keep pressing down the coil spring , it keeps going down but once the force is released the coil spring moves violently. This is exactly the same happening here in a symmetrical triangle.
CMP 1058
Can Head Towards 1150+
It is often referred to as a Coil Pattern.
Here each price fluctuation is smaller than its predecessor.
Lower Highs & Higher Lows.
The process of contraction or coiling also has an effect on the volume.
Imagine a coil spring, the more you keep pressing down the coil spring , it keeps going down but once the force is released the coil spring moves violently. This is exactly the same happening here in a symmetrical triangle.
CMP 1058
Can Head Towards 1150+
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.