A breakout is pending since the price has been making lower highs and higher lows as seen in the picture above. This event would form a "triangle" which is one of the trend continuation patterns. This pattern implied that the next move would be in the same direction as the trend that preceded this pattern. In this case, there was a uptrend before the formation of this pattern and the triange acts as a pause in the trend before the trend goes up again. It is considered one of the good entry strategies adopted by traders in their trading systems. Do you like this article? Share It!
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