EUR/JPY – Symmetrical Triangle Breakout & Bullish Continuation Setup
🕒 Timeframe: 30-Minute
📍 Pair: EUR/JPY
🛠 Structure: Symmetrical Triangle Breakout
📈 Bias: Bullish Continuation
🔍 1. Market Context:
The EUR/JPY pair was previously in a strong downtrend, forming a series of lower highs and lower lows. However, after reaching a significant support zone near 161.20, price found a base and began consolidating sideways.
This consolidation was followed by a bullish push that began forming higher lows, suggesting buying pressure. This transition marks the formation of a symmetrical triangle, a common continuation or reversal pattern depending on breakout direction.
🔺 2. Chart Pattern: Symmetrical Triangle
The triangle pattern forms as price compresses between converging support and resistance lines.
Support trendline: Formed by connecting the higher lows.
Resistance trendline: Formed by connecting lower highs.
This pattern reflects market indecision but often precedes a strong breakout.
A breakout to the upside is typically seen as a bullish signal, especially when it aligns with prior momentum.
✅ 3. Breakout Confirmation:
Price has clearly broken out above the resistance of the triangle pattern.
The breakout is accompanied by a sharp bullish candle that closed above resistance (around 163.00 – 163.10), confirming buyer dominance.
The breakout occurs in line with the prior bullish wave, suggesting a continuation of that trend.
💼 4. Trade Setup:
🔹 Entry:
Buy position entered at the breakout point above the triangle resistance (near 163.10).
🎯 Take-Profit Levels:
TP1: 163.655 – Short-term target based on minor structure and reaction levels.
Final Target: 164.186 – Calculated using the measured move from the height of the triangle projected upwards from the breakout.
🛑 Stop Loss (SL):
Placed at 161.933, just below the lower trendline of the triangle and the last swing low.
This SL protects the position while giving the trade enough room to breathe.
⚖️ Risk-to-Reward Ratio:
The setup offers an attractive R:R ratio, with limited downside risk and multiple bullish profit targets ahead.
With strong structure support and a decisive breakout, this setup favors trend continuation.
📌 Confluences Supporting the Trade:
✅ Symmetrical Triangle Breakout
✅ Prior bullish momentum
✅ Clean structure with defined support/resistance
✅ Higher lows leading into the breakout (bullish bias)
✅ Breakout of resistance with strong price action
📝 Conclusion:
This EUR/JPY setup represents a textbook bullish triangle breakout, supported by clear structural progression, previous trend momentum, and favorable risk-reward metrics. Traders can look for further upside toward 164.186 while maintaining risk below the triangle base.
🕒 Timeframe: 30-Minute
📍 Pair: EUR/JPY
🛠 Structure: Symmetrical Triangle Breakout
📈 Bias: Bullish Continuation
🔍 1. Market Context:
The EUR/JPY pair was previously in a strong downtrend, forming a series of lower highs and lower lows. However, after reaching a significant support zone near 161.20, price found a base and began consolidating sideways.
This consolidation was followed by a bullish push that began forming higher lows, suggesting buying pressure. This transition marks the formation of a symmetrical triangle, a common continuation or reversal pattern depending on breakout direction.
🔺 2. Chart Pattern: Symmetrical Triangle
The triangle pattern forms as price compresses between converging support and resistance lines.
Support trendline: Formed by connecting the higher lows.
Resistance trendline: Formed by connecting lower highs.
This pattern reflects market indecision but often precedes a strong breakout.
A breakout to the upside is typically seen as a bullish signal, especially when it aligns with prior momentum.
✅ 3. Breakout Confirmation:
Price has clearly broken out above the resistance of the triangle pattern.
The breakout is accompanied by a sharp bullish candle that closed above resistance (around 163.00 – 163.10), confirming buyer dominance.
The breakout occurs in line with the prior bullish wave, suggesting a continuation of that trend.
💼 4. Trade Setup:
🔹 Entry:
Buy position entered at the breakout point above the triangle resistance (near 163.10).
🎯 Take-Profit Levels:
TP1: 163.655 – Short-term target based on minor structure and reaction levels.
Final Target: 164.186 – Calculated using the measured move from the height of the triangle projected upwards from the breakout.
🛑 Stop Loss (SL):
Placed at 161.933, just below the lower trendline of the triangle and the last swing low.
This SL protects the position while giving the trade enough room to breathe.
⚖️ Risk-to-Reward Ratio:
The setup offers an attractive R:R ratio, with limited downside risk and multiple bullish profit targets ahead.
With strong structure support and a decisive breakout, this setup favors trend continuation.
📌 Confluences Supporting the Trade:
✅ Symmetrical Triangle Breakout
✅ Prior bullish momentum
✅ Clean structure with defined support/resistance
✅ Higher lows leading into the breakout (bullish bias)
✅ Breakout of resistance with strong price action
📝 Conclusion:
This EUR/JPY setup represents a textbook bullish triangle breakout, supported by clear structural progression, previous trend momentum, and favorable risk-reward metrics. Traders can look for further upside toward 164.186 while maintaining risk below the triangle base.
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