I’ve attached a 4 hourly EUR/JPY chart with a perfect wedge/triangle formation. A friend of mine insists that this formation loses its effectiveness once prices get past the 3/4 length of the wedge and near the apex. My feeling has always been that the pattern builds up strength as it nears the apex and that is when we really see effective break-outs. Has anybody got a strong view on this question?
Regarding wedges and triangles
Source: www.forexlive.com
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