Triangles

Triangles are important chart patterns. They offer very good probability for continuation of trend when price breaks from this pattern.

Ascending triangle

This version of stock chart pattern is considered as bullish. It has very good reliability if it is found in uptrend . As you can see on picture, there is horizontal resistance at highs and rising support line at lows.

Descending triangle

This version of stock chart pattern is considered as bearish. It has very good reliability if it is found in downtrend. The resistance is declining downtrend line and support is horizontal level.

! My personal trading tip !

The best trade setup is when price breaks from pattern. I like it personally very much.

This stock chart pattern can be used for swing trading strategy, day trading strategy but also in longer time frames (weeks or months) for position trading strategy.

The longer time is price inside of triangle the stronger is move after break from this pattern.

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