Potential Ascending Triangle (NQ Futures)

Updated
NQ Futures could be trying to setup an ascending triangle to catch bears short at the bottom with major upside potential with a breakout and confirm.

Will almost certainly coincide with data/news that will either play out a bear trap or a bull trap on the same timeframe for the next let the market takes.

Often these patterns forming at the bottom of a range end up being bull traps but anything can happen and it's best to be prepared for whatever happens.
Comment
If a breakout occurs, upside price targets would be:

- 18053.50
- 18483.75
- 18709.00
Trade closed: target reached
Closed out all at 18238
- Looks like a bear market rally that has concluded
- Closed trade for about 300 points
Ascending TrianglebeartrapbulltrapChart PatternsNQTrend Analysis

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