daily chart at the market closing
Is it a symmetrical or an ascending triangle? :-? Whatever it is, the market is telling us that neither the bulls nor bears are in control.
Useful tips from Informed Trades regarding the ascending triangle pattern:
- While the shape of the triangle is significant, of more importance is the direction that the market moves when it breaks out of the triangle.
- While you normally will see this pattern form in an uptrend; if you do see it in a downtrend, it should be paid attention to as it can act as a powerful reversal signal.
- Many charting books will tell you that in most cases, the buyers will win this battle and the price will break out past the resistance. However, it has been my experience that this is not always the case.
nice chart and analisys, sorry if my english very bad.Have u analize on the weekly tf and make a head & shoulder pattern. If H&S pattern valid please take more attention. Have a nice weekend and always greenpips.
welcome faisal....
if you were here earlier, you might notice that I have highlighted a possible inverse head and shoulder pattern on the daily chart.
So far, I have not see any head and shoulder pattern on the weekly chart...
Anyhow, thanks for your comment...
cheers
if u want to see inverted h&s on weekly chart, please change to line chart gj tf weekly...u will see. i hope that pattern valid