The PRICE ACTION approach to analyzing price movement is based on Ralph Elliott's wave theory, the approach is based on the repetition of technical patterns that are built from the unconscious behavior of traders in a certain product. The combination of this approach with fundamental events in the world and correlations with relevant products allows with a high percentage of success to predict the future price movement of a certain asset while utilizing this information to generate financial profit.
The attached graph describes a transaction in a futures contract on the coffee, a trade we are in from the breakout point using a symmetrical triangle pattern:
Attached is a graph describing the theoretical model of a symmetrical converging triangle in an upward trend:
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