Symmetrical Triangle - Good probability of break higher

Sep 23, 2019

Symmetrical triangle with a false breakout 5th touch. Price distributing nicely across the demand area at 14.75 & onto the rising 200DMA. This should narrow over the next week or so & high probability to break higher. Although the present setup is a triangle, the convergence of the supply areas (horizontal supports/resistance) and the fib levels on this chart are very likely to make the overall completion look a lot like an inverse head and shoulders.