The Handbook of Technical Analysis + Test Bank_ The Practitioner\'s Comprehensive Guide to Technical Analysis ( PDFDrive )

Chart Pattern Analysis

figUre 13.24 A Symmetrical Triangle as a Reversal Formation on the Weekly Chart

of EURUSD.

Source: MetaTrader 4

figUre  13.25 A Symmetrical Triangle Formation as a Continuation Formation on

the 15‐Min Chart of EURUSD.

Source: MetaTrader 4

In Figure 13.26, we observe a symmetrical formation acting as a continua-

tion formation and meeting its minimum one‐to‐one target price on the 15‐min

chart of EURUSD. The height of the base of the triangle, AB, is projected from the

breakout level at Point C, which is met exactly at the market top indicated at the

price level DE. CD is the projection of AB from Point C. We also see other chart

patterns meeting their minimum one‐to‐one price targets based on the height of