'Market and Human' Psychology perspectives with tips on how to avoid common mistakes by 
These triangles give way to what is referred to as a terminal thrust. Meaning that if the observation is correct a top should form in a 5 wave sequence that should then give way to a reversal.
The Psychology that forms a wave 4 and wave 5 terminal thrust is really quite interesting and is usually the place where most retail traders (Yes folks that’s us) jump on the last move up only to find out why wave 5 is often referred to as: The Fools Wave. As there is evidence of a potential top, use caution if you are still wanting to go long EUR/USD and JPY pairs.
Having said that, the most common target for the 5th wave is usually equal to wave 1. In this case, wave one is not that discernible so the default is to expect firstly a double top and next targets are; 1.382, 1.5 and 1.618.
What I will be looking for is a tweezer top on the 1 hr chart as a potential reversal signal this evening.
Note: There is always the danger that the 5th wave extends beyond the target zone or that the observation is incorrect.
