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Expanding Triangle Forex Pattern

Expanding Triangle Forex Pattern

The expanding (broadening) triangle consists of a horizontal mirror image of a triangle, where the tip of the triangle is next to the original trend, rather than its base (see the Figure below.) Volume also follows the horizontal mirror image switch and increases steadily as the chart formation develops.

The Figure diplays the bottom support line, defined by points B, D, and F, and the top line, defined by points A, C, and E, are divergent. The price objective should be the width, GG', of the base of the triangle, measured from the breakout point G. In the numerical example, the price objective is 102.00, as the 100-pip difference between 101.00 and 100.00, measured from 101.00.

Expanding Triangle Forex Pattern

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