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AGL and IMP set for breakout from symmetrical triangle patterns

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Both AGL & IMP are forming symmetrical triangles, developing over the past 3 weeks, both due for a breakout, AGL set for +- 7000 cents (pattern height) breakout, IMP set for +- 5500 cents (pattern height) breakout, we expect downward breakout, going short on both as soon as breakouts are confirmed, our humble observations & opinions
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4 REPLIES 4
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1169
Frequent Contributor
how do you get a breakdown signal on IMP
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breakdown = closing price below bottom (support) trendline of symm. triangle. breakout = closing price above upper (resistance) trendline of symm. triangle. not a specific share price value, changing with developing triangle
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Electrox
Super Contributor
The Preceding trend is down, so therefore this could just be a continuation pattern, but dont forget the shakeout and volume too. imo
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