Symmetric Triangle, likely to break down
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Here's a symmetric triangle (recently validated with 3 touches on support and resistance)
Should have a roughly 70% likelihood of breaking downward (Symmetric triangles suggest continuation of trend)
Entry is underneath the last touch of support
Stop loss is above the last touch of resistance
Profit target is the height of the triangle applied to the breakdown price
Should have a roughly 70% likelihood of breaking downward (Symmetric triangles suggest continuation of trend)
Entry is underneath the last touch of support
Stop loss is above the last touch of resistance
Profit target is the height of the triangle applied to the breakdown price
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Right on time
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