Analysis: Asymmetric Triangle | EUR\JPY

Submitted by ChartSecret.com on Wed, 07/15/2009 - 07:57
in

Asymmetric Triangle Chart Pattern

Very precise Asymmetric Triangle Chart Pattern, confirmed several times in the Support and Resistance trendlines. Pattern is 60 pips in size, hence projected target is 131.525. Night traders could have taken several trades on the Support trendline itself and close on the trendline.

Asymmetric Triangles are one of the most reliable chart patterns, providing many profitable trading signals. Learn to trade Triangles here.

Trading
Conservative Long - Taken after pullback to the Resistance level at 130.90. Target is 131.525, if Risk:Reward is above 2 we will enter a Long trade.

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