A bullish symmetrical triangle breakout has happened recently and it might be happening again.
Things to note:
- Established trend should exist (Uptrend in this case)
- The triangle should have lower highs and higher lows as indicated.
How i trade this breakout :
- Entry price placed slightly above previous high of resistance trend line
- Stop loss place slightly below previous low of support trend line
- Target price measured from highest and lowest point of trend line
RSI seems to be acting the same as well.
Wishing you guys a Merry Christmas and Happy New Year !
May the trades be in our favour. Cheers =)
Things to note:
- Established trend should exist (Uptrend in this case)
- The triangle should have lower highs and higher lows as indicated.
How i trade this breakout :
- Entry price placed slightly above previous high of resistance trend line
- Stop loss place slightly below previous low of support trend line
- Target price measured from highest and lowest point of trend line
RSI seems to be acting the same as well.
Wishing you guys a Merry Christmas and Happy New Year !
May the trades be in our favour. Cheers =)