$RELY: 3-Year Triangle Setup, 80% PotentialRemitly Global, Inc.BATS:RELYArthurshRELY is getting close to a breakout from a giant symmetrical triangle that has been developing for almost three years. This setup reminds me a lot of the MDB setup I published a few days ago. The triangle has been forming since October 2023, and the key breakout confirmation level is $27.27, which marks a breakout above the second high of the triangle. Using the classic symmetrical triangle method to project the potential targets, I get: Target 1: $47.68 Target 2: $50.84 Zooming in to the 1 hour chart: On the 1H chart, we can see that the price has also been consolidating inside a symmetrical triangle for the past month, and it’s currently trading just below the triangle’s breakout level. In case of a clean breakout, the small triangle targets are $28.64 for Target 1 and $31.19 for Target 2. The interesting part is that a breakout from this smaller triangle would also trigger the breakout confirmation level of the giant triangle, which has significantly higher targets, as shown on the daily chart. My plan here is to wait for a breakout above $27.27, which is the key breakout level for the giant triangle. I’ll use the smaller triangle to define my stop-loss, which I’ve set at $25.20. A break below this level would mean the small triangle has broken down, signaling to me that the bullish setup has failed.