Symmetrical Triangle In Action

Update Chart: After breakouts of sym. triangle, price just move less than 200 pips.. end up with double low & inverted head and shoulder.... Hmm another failed chart pattern... Should read this again..

I saw this chart pattern forming 2Hrs ago.. Click Here... Price may move 500 pips after breakouts.. I'm looking for another trade (swing trade) position @ 4.00 PM if i get confirmation of 4Hr Trend & i will update here..

15M TF - Symmetrical Triangle

How to trade sym. triangle.. Click Here.. Look at Number 1 (start) & Possible of Number 5 (Breakouts level) for Clue... So basically this chart support for Bear.. but always wait for confirmation..

Symmetrical Triangle - Revisit.

M Shape untuk Bearish
W shape untuk Bullish

2nd Retest Confirmed the power of SBR Line

18 June 2009 - GJ outlook for Today

18 June 2009: 9.30 AM (Malaysia)

Cerita GJ hari nie bermula dengan Symmetical Triangle semalam; best view kat 15M TF atau 1Hr TF; nampaknya price action selepas patterns ni menyebabkan GJ terjun kebawah. Hari nie; dia retest kat previous TRENDLINE; adakah ini Good Bye Kiss sebelum price terjun semula. Chart untuk Rujukan










Sekarang aku ada dua post untuk short; stop loss & TP dah disetkan. So let the market decide. MM within emotional level. MM masih ada ruang untuk masuk trade jika peluang.

Apa Red News hari nie?

Pagi tadi; aku tak tahu apa yang Mr King cakapkan; apapun; reaction ialah RETRACEMENT.
4.30 PM - Retail Sales (GBP Negative News).
8.30 PM - U .Claims (US Dollar Positive News).

So kita ada satu News bad for GBP & satu News good for US Dollar.

Technical:

4Hr Trend; Masih Downtrend.
Price Bounce (Bullish Engulfing) more than 200 pips up after Reject 120 SMA @ 4Hr.
Sedang menanti masa sesuai untuk Swing Trade.
Perlu hourly monitor

So tungguuu samada ada peluang untuk swing short ker tak hari nie.

So favor aku SHORT sampai 4Hr trend change; buat masa sekarang BEAR

Update 12.00 Noon:

4Hr Trend Established Bear.
1Hr masih Bull - Ini yang menahan price dari pecut kebawah

Hourly monitor untuk Swing Trade

Update: 5.00 PM (Tak dapat assess internet sejam jam 3.30 PM - Siut betul).

4Hr Trend; masih down...

GBP News Negative - Result Negative for GBP.
Dah termissed good Scalp Trade (mungkin takde rezeki)

Action: Menunggu Swing Trade atau Scalp Trade; jika ada retracement mungkin akan ada malam nie. Direction; SELL until proven otherwise. Harap internet tak down lagi lepas nie.

8.40 MLM.. Update

USD News - Positive for Dollar
4Hr Trend - Masih Bear
So far; after missed the boat no good entry point yet.

Reminder:

Never Assume That A Current Trend Ended Until There are Clear Sign That The Opposite Trend Has Started...

Why we focus only on TECHNICAL for ENTRY?

According to George Soros - In forex for a currency to move up or down... due to 3 factors..

1.Inside Factor
2.Outside Factor
3.Completely Unknown Factor

Why?

Inside factor = Direct reason for a move(eg:UK or Japan IR)
Outside Factor= Indirect (eg:US ecnomy is effecting JPY)
Unknown= complete Mystry (know one knows why it moves in a particular direction)

This is why I always rely on a technical strategy rather than a fundamental strategy.

By Owner of Caripips Blog

Symmetrical Triangle - Chart Patterns

Update Chart: Nama Patterns Symmetrical Triangle. Buyer & Seller; Tug of War to win. Look at number (1), (2), (3), (4) & (5). Most of the time; price will breaks at number (5). The best place for stop loss is at (4). For TP, Normally range in between (1) & (2) is the target from breakouts level.

Two Classical Symmetrical Triangle (Bullish & Bearish)

Symmetrical Triangle Chart Patterns. How to trade this chart patterns?












Look at above chart. We see potential 400 pips down if price successfully breaks lower trendline. I will update the chart and how to trade this type of chart later (Update of Chart Suggest Successful Breakout of Symmetrical Patterns).

4hr Bearish Trend...

Update: 300 Pips

Latest Candle Belum Complete: Chart menunjukkan new trend of 4Hr is bearish... with strong support at 208.9xx...

Symmetrical Triangle in 15M Chart..

Wait for valid breakout - HOT KNIFE CUT BUTTER CANDLE..
Note: Symmetrical triangles may mark important trend reversals; but they more often mark a continuation of the current trend. Regardless of the nature of the pattern, continuation or reversal, the direction of the next major move can only be determined after a valid breakout. We should not anticipate the direction of the breakout, but rather wait for it to happen.