Chart pattern of the day — the rectangle
- Posted by PeterLBrandt
- on December 13th, 2012
The rectangle tends to be a reversal pattern. I love the pattern because its boundary lines are horizontal, meaning that a successful breakout also resolves the complete congestion zone.
The targeting is determined by projecting the height of the rectangle in the direction of the breakout. However, rectangles often run far beyond the standard measured targets.
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Peter Brandt entered the commodity trading business in 1976 with ContiCommodity Services, a division of Continental Grain Company. From his start in the commodity industry, Peter's goal was to trade proprietary funds. But, he first needed to learn the business. More »