LTC/USD forming ascending triangle.
All in place:
Price trend - Can be any direction leading to the chart pattern.
Shape - Triangular. Prices move between two converging trendlines.
Trendlines - Two trendlines bound prices; the top trendline is horizontal and the bottom one slopes upward.
Crossing - Price must cross the pattern from side to side, filling the triangle with price movement, not white space.
Touches - Price must touch each trendline at least twice, forming distinct valleys and peaks.
Volume - Trends downward 77% of the time.
Breakout - Upward 70% of the time and 61% of the way to the triangle apex (upward breakouts) and 62% of the way for downward breakouts.
Average rise/decline: 35%; 19%
Credit - Thomas N. Bulkowski
source - thepatternsite.com/at.html
IF YOU LIKE TRADING IDEA SMASH THAT LIKE BUTTON!!!
This information is not a recommendation to buy or sell.
All in place:
Price trend - Can be any direction leading to the chart pattern.
Shape - Triangular. Prices move between two converging trendlines.
Trendlines - Two trendlines bound prices; the top trendline is horizontal and the bottom one slopes upward.
Crossing - Price must cross the pattern from side to side, filling the triangle with price movement, not white space.
Touches - Price must touch each trendline at least twice, forming distinct valleys and peaks.
Volume - Trends downward 77% of the time.
Breakout - Upward 70% of the time and 61% of the way to the triangle apex (upward breakouts) and 62% of the way for downward breakouts.
Average rise/decline: 35%; 19%
Credit - Thomas N. Bulkowski
source - thepatternsite.com/at.html
IF YOU LIKE TRADING IDEA SMASH THAT LIKE BUTTON!!!
This information is not a recommendation to buy or sell.
Comment:
Just added lower first target - more realistic
Comment:
If triangle breakout downward that is my target for short position. Pattern become valid once breakout occurs ( candle has to be closed )
Comment:
Triangle broke out downwards so target should be around 150$
Comment:
Target reached