triangle patterns

Discussion in 'Technical Analysis' started by mute9003, Apr 13, 2022.

  1. mute9003

    mute9003

    Is this a symmetrical triangle or something else?
    When you reading patterns how much deviation do you allow from the basic pattern?
    And what else do you look at
     
  2. maxinger

    maxinger

    CONVERGING triangle pattern.
     
  3. SunTrader

    SunTrader

    Although proper trading is about following your rules it is way more art than science.

    If it looks right it is right but only within the rules for entry/exit/trade and account management.
     
  4. spooz

    spooz

    I wouldn't worry too much about the symmetry of the triangle. The Important thing here is the series of ascending lows and some higher highs. On balance it's more likely to go up than down. Not a certainty, but it's what to watch for.
     
    Frederick Foresight likes this.
  5. Triangles are correction patterns... market usually breaks out in the same direction it came into the pattern.
     
    fan27, KCalhoun and mute9003 like this.