A breakout from the pattern on the downside is seen a retracemnet is expected towards the breakout level, a negative candle at the breakout level would be an opportunity to enter short in the pair, if the breakout is a failure ignore shorts and enter long in the pair as failure in the pattern has a good sucess ratio.

The Pair is currently trading below the 10&50 day MA, for breakout on the upside the pair has to close above the trendline and price should trade above both the MA and RSI should support the price.

For downside breakout the security has to close below the rising trendline and price should trade below the MA with RSI supporting the price.

Symmetric Pattern

Jan 03 2023