Triangle Breakout: Japanese (Yen) is on the Run

(Click on Image for Larger View)

For those who spotted this Double Inside Bar (Daily) or Triangle formation, well done for doing so. For those who spotted it and Traded it, give yourself a big pat on the back.

The Japanese Yen broke out of consolidation this afternoon and it is flying north as I typed. Theory has it that triangle breakouts usually move at a measured move (as shown on arrows). I’m not usually a breakout trader but I’m pretty keen to find out if the theorist is even near being correct.

Thanks for reading and Happy trading!

Leave A Response

* Denotes Required Field