Showing posts with the label descending- triangle-upside-breakout


TRIANGLE CHART PATTERN Triangles are a commonly found in the price charts of financially traded assets stocks, bonds, futures, etc. The pattern derives its name from the fact that it is characterized by a contraction in price range and converging trend lines, thus giving it a triangular shape. ascending and descending triangle chart pattern are horizontal trend line drawn across the minor highs and an up-sloping trend line connecting the minor lows form the characteristic triangular pattern. Volume diminishes as   prices bounce between resistance at the top and support at the bottom. A premature breakout gives a hint of the coming action; less than two weeks later, prices break out again and move higher.  ASCENDING TRIANGLE                                                                  The ascending triangle is formed when the market makes higher lows and the same level highs. These patterns are normally seen in an uptrend and viewed as a continuation patt