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Symmetrical Triangle Pattern on Daily Chart of Silver as of 2019-10-20

October 21, 2019 at 7:28 by Vladimir Vyun

A symmetrical triangle pattern has formed on the daily chart of silver, suggesting that prices are likely to resume their movement to the upside after a period of consolidation.

The yellow lines show the triangle itself. The cyan line is located at the 10% of the pattern’s width above the upper side of the triangle and offers an entry point for those traders who are willing to bet on an upside breakout. The green line is drawn at the triangle’s width above the pattern and suggests a profit-taking target.

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 silver 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 silver, please feel free to submit them via the form below.

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