chart h1 - 12 pm Malaysia
price keep ranging and forming a symmetrical triangle...
The symmetrical triangle can be seen and traded in either up trends, down trends, or sideways markets. When traders find this pattern on a chart they will look to trade in the direction of the breakout, as this is a sign that one direction either the bulls or the bears have won out over the other. Like ascending and descending triangles, traders will look to trade the break of the pattern, calculating their target by measuring the distance between the high and low at the start of the pattern. The stop will then be placed just outside of the nearest peak if the market breaks to the downside or the nearest trough if the market breaks to the upside.
source: informedtrades
UPDATE:
2.30 pm - triangle broken at the upside??
now testing yesterday high (138.36)
me ??? - stay out :D
UPDATE II:
chart 30 min - 4.30 pm
price failed to make clean break of yesterday high...
will London push the baby further down???
11.00 pm - just came back from an errand
opened the chart and found out my TP 136.00 was hit...
enough for today [-o<
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