Triangles

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

Ascending triangle

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

Descending triangle

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

! My personal trading tip !

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

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

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

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