Descending Triangle Pattern

Decending Triangle Pattern

Descending Triangle Pattern – The descending triangle is generally considered to be a bearish pattern that indicates distribution and is usually found during down trends (see Figure 1 and Figure 2). Figure 1 Descending triangle in a down trend — bearish. Figure 2 Descending triangle showing apex, pattern height and breakout. It is the bearish counterpart of an ascending triangle. A descending triangle is formed when the price makes lower highs but the lows keep occurring at the same price level due to support. The odds favor a downside breakout…

Read More

Ascending Triangle Pattern?

Ascending Triangle Pattern? – An ascending triangle occurs when there are higher lows, but the highs recure at the same price level due to resistance. Ascending triangles indicate an upward bias, with a flat top and a series of higher lows Ascending triangles are generally considered bullish and are most reliable when found during an up trend. The top part of the triangle appears flat, while the bottom part of the triangle has an upward slant. Regardless of where they form, ascending triangles are bullish patterns that indicate accumulation. There…

Read More