Ascending Triangle on NZD/JPY @ W1
Updated
This pattern on the weekly chart of NZD/JPY resembles a mix of ascending and symmetrical triangles and provides a bullish breakout trading opportunity. The triangle's borders are marked with the yellow lines. My potential entry is marked with the cyan line. My potential take-profit level is marked with the green line. The stop-loss is to be set to the triangle's low at 77.068.
Trade active
Long entry triggered today at 10:00 UTC with entry at 87.033, SL at 77.068, and TP at 96.712 (will be going down each week).Trade closed manually
Closed by time-out today at 83.097.
You can find useful tools to detect, build, and trade chart patterns - all completely free on earnforex.com.
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.