Rectangle Top (bullish)

CURRENT CONFIDENCE = 68%
TARGET (EXIT) PRICE = 9.723198 HKD
BREAKOUT (ENTRY) PRICE = 9.685407 HKD
DISTANCE TO TARGET PRICE = 0.21% (206.8 pips)
Tickeron AI shows that thee Rectangle Top pattern forms when the price of a pair is stuck in a range bound motion. Two horizontal lines (top: 1, 3, 5) and (bottom: 2, 4) form the pattern as the pair bounces up and down between support and resistance levels. Depending on who gives up first ­ buyers or sellers ­ the price can breakout in either direction.

This pattern is commonly associated with directionless markets. Usually, the pattern performs better when there is a strong uptrend leading into the formation.