Day: March 4, 2012

Ascending Triangle on NZD/JPY H4 Chart

A classic example of an ascending triangle chart pattern can now be seen on NZD/JPY H4 chart. Following a very long uptrend, a consolidation with a horizontal resistance and inclining support have formed a potential continuation signal. Personally, I will trade only the upward breakout and will ignore the bearish one. There are two reasons for that: first, it’s a continuation pattern in a strong bullish trend; second, the downward breakouts through an ascending […]