Rectangle Top (bullish)
CURRENT CONFIDENCE = 68%
TARGET (EXIT) PRICE = 9.723198 HKD
BREAKOUT (ENTRY) PRICE = 9.685407 HKD
DISTANCE TO TARGET PRICE = 0.21% (206.8 pips)
Tickeron AI shows that thee Rectangle Top pattern forms when the price of a pair is stuck in a range bound motion. Two horizontal lines (top: 1, 3, 5) and (bottom: 2, 4) form the pattern as the pair bounces up and down between support and resistance levels. Depending on who gives up first buyers or sellers the price can breakout in either direction.
This pattern is commonly associated with directionless markets. Usually, the pattern performs better when there is a strong uptrend leading into the formation.
TARGET (EXIT) PRICE = 9.723198 HKD
BREAKOUT (ENTRY) PRICE = 9.685407 HKD
DISTANCE TO TARGET PRICE = 0.21% (206.8 pips)
Tickeron AI shows that thee Rectangle Top pattern forms when the price of a pair is stuck in a range bound motion. Two horizontal lines (top: 1, 3, 5) and (bottom: 2, 4) form the pattern as the pair bounces up and down between support and resistance levels. Depending on who gives up first buyers or sellers the price can breakout in either direction.
This pattern is commonly associated with directionless markets. Usually, the pattern performs better when there is a strong uptrend leading into the formation.
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