Pattern Analysis: Symmetrical Triangle Formation with Potential Breakout
🔷 Pattern Overview:
The chart illustrates a Symmetrical Triangle Pattern with the following key points labeled:
• Point A (bottom of initial rally)
• Point B (peak of rally)
• Point C (retracement low)
• Point D (lower high within the triangle)
The price has been consolidating within converging trendlines (upper and lower bounds), forming a symmetrical triangle—a classic continuation pattern.
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✅ The current price action at ~20,600 VND is attempting to break above the upper boundary of the triangle, indicating a potential bullish breakout.
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🧠 Key Technical Insights:
1. Volume Consideration (if available):
• A breakout is more reliable if accompanied by increased trading volume.
• Volume confirmation is not visible in the screenshot, but should be checked.
2. Target Projection (Post-Breakout):
• Height of triangle (from A to B) ≈ 38,000 VND
• Add to breakout point (~20,000 VND) → potential target around 55,000–60,000 VND (in a textbook breakout scenario)
3. Risk Level:
• False breakouts are common. Confirm breakout with:
• Retest of the upper trendline as support
• Sustained close above breakout zone
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📌 Summary:
The chart shows a long-term symmetrical triangle pattern, and the current price is testing a breakout to the upside. If confirmed, it may signal the start of a new bullish leg with a significant upside potential. Traders should monitor volume, candlestick confirmation, and potential retest of breakout level.
🔷 Pattern Overview:
The chart illustrates a Symmetrical Triangle Pattern with the following key points labeled:
• Point A (bottom of initial rally)
• Point B (peak of rally)
• Point C (retracement low)
• Point D (lower high within the triangle)
The price has been consolidating within converging trendlines (upper and lower bounds), forming a symmetrical triangle—a classic continuation pattern.
⸻
✅ The current price action at ~20,600 VND is attempting to break above the upper boundary of the triangle, indicating a potential bullish breakout.
⸻
🧠 Key Technical Insights:
1. Volume Consideration (if available):
• A breakout is more reliable if accompanied by increased trading volume.
• Volume confirmation is not visible in the screenshot, but should be checked.
2. Target Projection (Post-Breakout):
• Height of triangle (from A to B) ≈ 38,000 VND
• Add to breakout point (~20,000 VND) → potential target around 55,000–60,000 VND (in a textbook breakout scenario)
3. Risk Level:
• False breakouts are common. Confirm breakout with:
• Retest of the upper trendline as support
• Sustained close above breakout zone
⸻
📌 Summary:
The chart shows a long-term symmetrical triangle pattern, and the current price is testing a breakout to the upside. If confirmed, it may signal the start of a new bullish leg with a significant upside potential. Traders should monitor volume, candlestick confirmation, and potential retest of breakout level.
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.