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Symmetrical Triangle Pattern on 4-Hour Chart of Natural Gas

June 11, 2017 at 21:18 by Vladimir Vyun

A symmetrical pattern has formed on the 4-hour chart of naturals gas. Such pattern forms during a period of low volatility when prices go sideways for some time. Such period usually does not last for long and is usually followed by a sharp breakout, which can happen in either way. But considering that prices were going down before the period of consolidation, there are high chances that the movement will continue in the same direction — down. The present chart offers targets for such a scenario.

The yellow lines indicate the symmetrical triangle itself. The cyan line offers the entry point in case of a downside breakout. The green line suggests a profit-taking objective.

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 symmetric triangle pattern on the chart of natural gas, please feel free to submit them via the form below.

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