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Symmetrical Triangle on H4 Chart of Natural Gas

December 9, 2018 at 16:00 by Vladimir Vyun

A symmetrical triangle pattern has formed on the 4-hour chart of natural gas. Being a continuation pattern, it suggests that prices will likely continue to go in the same direction they were moving before the period of consolidation. In this instance, that direction is up.

On the present chart, yellow lines indicate the triangle, which is drawn through lower highs and higher lows of price moves. The cyan line is plotted 10% above the triangle’s width and provides an entry point for long positions in case of an upside breakout. The green line is situated at the triangle’s width above the pattern and offers a profit-taking objective.

You can click on the image to see a full-size version:

The chart was built using the ChannelPattern script. You can download a MetaTrader 4 chart template for this natural gas pattern. You can also trade it using the free Chart Pattern Helper EA.

If you have any questions or comments regarding this symmetrical triangle pattern on the chart of natural gas, please feel free to submit them via the form below.

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