GBPEUR, Triangle Ascending (bullish) pattern
CURRENT CONFIDENCE = 52%
TARGET (EXIT) PRICE = 1.110593 EUR
BREAKOUT (ENTRY) PRICE = 1.107847 EUR
DISTANCE TO TARGET PRICE = 0.31% (34.1 pips)
Tickeron AI shows that the Ascending Triangle pattern forms when the price of a pair tests a resistance level and creates a horizontal top line (1, 3, 5), with an upward-sloping bottom line (2, 4) formed by a rising support level. The breakout can either be up or down, and it will determine whether the target price is higher or lower.
This pattern is commonly associated with directionless markets, since the contraction (narrowing) of the market range signals that neither bulls nor bears are in control. When the price of a pair consolidates around a certain level, it may indicate growing investor confidence for a significant uptrend
TARGET (EXIT) PRICE = 1.110593 EUR
BREAKOUT (ENTRY) PRICE = 1.107847 EUR
DISTANCE TO TARGET PRICE = 0.31% (34.1 pips)
Tickeron AI shows that the Ascending Triangle pattern forms when the price of a pair tests a resistance level and creates a horizontal top line (1, 3, 5), with an upward-sloping bottom line (2, 4) formed by a rising support level. The breakout can either be up or down, and it will determine whether the target price is higher or lower.
This pattern is commonly associated with directionless markets, since the contraction (narrowing) of the market range signals that neither bulls nor bears are in control. When the price of a pair consolidates around a certain level, it may indicate growing investor confidence for a significant uptrend
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.