A) Technical : (4 Hrs Chart) Descending Triangle Chart Pattern
Breakout @ 1.43733 ON 16/01/2018 @ 9.30am
Technical Target : 0.17242
B) Technical : (4 Hrs Chart) Symmetrical Triangle Chart Pattern
Breakout @ 1.20102 ON 26/01/2018 @ 09.30am
Ripple (XRPUSD) formed a rather large symmetrical triangle over a 7-days period before breaking out on the downside.
Ripple declined from 1.49701 in Jan-18-2018 to 1.31783 in Jan-26-2018 before beginning to firm and consolidate.After the first 4 points formed, the lines of the symmetrical triangle were drawn Ripple traded within the boundaries for another 2 days to form the last 2 points.The breakout occurred a little over 2 days later, but proved valid nonetheless. While it is preferable to have an ideal pattern develop, it is also quite rare.After points 3 and 3 formed, the price action moved to the lower boundary of the pattern. Even at this point, the direction of the breakout was still a guess and its was prudent to wait. The break occurred with accelerated price decline.
