XRPPanjang
XRPUSD YET TO MAKE A BREAKOUT
Today 9th of January 2019 being the 14th day of price consolidating inside the symmetrical triangle chart pattern.
Symmetrical triangles, sometimes called coils, are a popular chart pattern because they appear often and perform reasonably well .
A symmetrical triangle has two merging trend lines. For this formation, at least two peaks and two valleys are necessary. To reduce false
breakouts, investors should wait until there are either three peaks and two valleys or three valleys and two peaks.
Volume trends downward 86% of the time. Breakout upward 54% of the time and 75% of the way to the triangle apex (upward breakout) and 73% of the way for downward breakouts.
The consolidation pattern of the symmetrical triangle forms as volume recedes. Then, price breaks out downward, but within a few days, price reverses and shoots out the top of the symmetrical triangle, busting the pattern and leading to a strong move upward( that is only if price breaks to the downside)
Targets after breakout are shown on the chart.
Remember TECHNICAL ANALYSIS is all about probabilities and based on previous market performance(not all about certainty)
Disclaimer: This is for educational purposes,it is not intended as a financial advice.
The analyst won't be responsible for a loss of fund. Trader should be able to manage risk.
Symmetrical triangles, sometimes called coils, are a popular chart pattern because they appear often and perform reasonably well .
A symmetrical triangle has two merging trend lines. For this formation, at least two peaks and two valleys are necessary. To reduce false
breakouts, investors should wait until there are either three peaks and two valleys or three valleys and two peaks.
Volume trends downward 86% of the time. Breakout upward 54% of the time and 75% of the way to the triangle apex (upward breakout) and 73% of the way for downward breakouts.
The consolidation pattern of the symmetrical triangle forms as volume recedes. Then, price breaks out downward, but within a few days, price reverses and shoots out the top of the symmetrical triangle, busting the pattern and leading to a strong move upward( that is only if price breaks to the downside)
Targets after breakout are shown on the chart.
Remember TECHNICAL ANALYSIS is all about probabilities and based on previous market performance(not all about certainty)
Disclaimer: This is for educational purposes,it is not intended as a financial advice.
The analyst won't be responsible for a loss of fund. Trader should be able to manage risk.
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.