NF 30 min showing expanding triangle...
Expanding Triangles vary in their duration & are often quite large which offers nuances for traders during the development. They will have at least two swing highs & two swing lows in price. Traders should be prepared to adjust the trendlines as needed with additional swings. Overall volume usually diminishes as the pattern develops because traders become more & more unsure as to the market’s future direction. Eventually prices will break the immediate price range as outlined by the triangle extensions of support & resistance.
Below is the HTF for 10-11-2014..
8300 is the Max pain..as per option chain...so watch the RC and WRC candle in the LTF for better trade's
Expanding Triangles vary in their duration & are often quite large which offers nuances for traders during the development. They will have at least two swing highs & two swing lows in price. Traders should be prepared to adjust the trendlines as needed with additional swings. Overall volume usually diminishes as the pattern develops because traders become more & more unsure as to the market’s future direction. Eventually prices will break the immediate price range as outlined by the triangle extensions of support & resistance.
Below is the HTF for 10-11-2014..
8300 is the Max pain..as per option chain...so watch the RC and WRC candle in the LTF for better trade's
