After the initial upward break-out of the trend channel we have seen a gradual tigthening compression of the price action since the beginning of this week as illustrated above with the symetrical triangle formation/ volatility funnel. There is also a bullish outside candel on this 4hr chart as a potential leader to the break-out. I will therefore be looking to get long on a break to the up-side and with the prevailing trend. Patterns rarely have more than a 50% success rate so it is important to get paid off from these trades and I will be looking for at least 2:1 risk reward in the avent of a decisive break-out.
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