NASDAQ BREAKOUT
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Triangles provide an effective measuring technique for trading the breakout, and this technique can be adapted and applied to the other variations as well.
The ascending triangle pattern is similar to the symmetrical triangle except that the upper trendline is flat and the lower trendline is rising. This pattern indicates that buyers are more aggressive than sellers as price continues to make higher lows. Price approaches the flat upper trendline and with more instances of this, the more likely it is to eventually break through to the upside.
The descending triangle pattern on the other hand, is characterized by a descending upper trendline and a flat lower trendline. This pattern indicates that sellers are more aggressive than buyers as price continues to make lower highs
Its important to note that finding the perfect symmetrical triangle is extremely rare and that traders should not be too hasty to invalidate imperfect patterns. Traders ought to understand that triangle analysis is less about finding the perfect pattern and more about understanding what the market is communicating, through price action.
The ascending triangle pattern is similar to the symmetrical triangle except that the upper trendline is flat and the lower trendline is rising. This pattern indicates that buyers are more aggressive than sellers as price continues to make higher lows. Price approaches the flat upper trendline and with more instances of this, the more likely it is to eventually break through to the upside.
The descending triangle pattern on the other hand, is characterized by a descending upper trendline and a flat lower trendline. This pattern indicates that sellers are more aggressive than buyers as price continues to make lower highs
Its important to note that finding the perfect symmetrical triangle is extremely rare and that traders should not be too hasty to invalidate imperfect patterns. Traders ought to understand that triangle analysis is less about finding the perfect pattern and more about understanding what the market is communicating, through price action.
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