Triangle Types & Identification in Technical Analysis
Hi friends, Mates and Colleagues today i am sharing an easy to understand publication on Triangle patterns commonly seen and used during charting and in technical analysis, hope it might be helpful for the new entrants in the world of Tradingview and technical analysis sharing below the description about Triangles, visuals and some insight about already shared on provided chart. And i have always noticed that new traders are confused many times to recognizing Triangle patterns so sharing some insight on it mates !
In the study of technical analysis Triangles fall under the category of continuation patterns and usually don't have any clear trend identification, There are three different types of triangles The Ascending triangle, the Descending triangle, and the Symmetrical triangle.
Ascending Triangle-:
An ascending triangle is the price action contained between horizontal resistance trendline and a lower trendline (support) is rising diagonally, indicates uptrend can come possibly (Hitting frequently on resistance and making that weak) with Equal highs on resistance and higher lows on support characterize this triangle pattern. So we can say it is a bullish formation in process only we have to wait for a Breakout entry.
Key factor-:
An ascending triangle is used in technical analysis to show a coming uptrend in a security’s price. It is formed by two trendlines (suport and resistance) Resistance level is horizontal while support level is rising.
Descending Triangle-:
An descending triangle is the price action contained between horizontal support trendline and a falling trendline on resistance, indicates downtrend can come possibly (Hitting frequently on support and making that weak) with Lower highs on resistance and equal lows on support characterize this triangle pattern. So we can say it is a bearish formation in process and we can act accordingly after breakout.
Key Factors-:
A descending triangle is used in technical analysis to show a coming downtrend in a security’s price. It is formed by two trendlines (suport and resistance) Resistance line is falling while support level is horizontal.
Symmetrical Triangle -:
A symmetrical triangle is the price action by connecting the rising lows on support and lower highs on resistance of a security's price with Lower highs on resistance and higher lows on support characterize this triangle pattern, And specially in this triangle pattern it is very tough to predict about coming trend because from the bottom price rising and from the top price is declining and breakout can happen in any of direction.
Key Fcators-:
The symmetrical triangle tells us that the market is currently undecided about the future direction of the price action. The higher lows and the lower highs also signal that the market seems listless in its direction. Again, the market may seem more inclined to move in the direction of the existing trend.
Hope you like this Publication, Thanks for reading and giving your valuable time.
Best Regards- Amit
In the study of technical analysis Triangles fall under the category of continuation patterns and usually don't have any clear trend identification, There are three different types of triangles The Ascending triangle, the Descending triangle, and the Symmetrical triangle.
Ascending Triangle-:
An ascending triangle is the price action contained between horizontal resistance trendline and a lower trendline (support) is rising diagonally, indicates uptrend can come possibly (Hitting frequently on resistance and making that weak) with Equal highs on resistance and higher lows on support characterize this triangle pattern. So we can say it is a bullish formation in process only we have to wait for a Breakout entry.
Key factor-:
An ascending triangle is used in technical analysis to show a coming uptrend in a security’s price. It is formed by two trendlines (suport and resistance) Resistance level is horizontal while support level is rising.
Descending Triangle-:
An descending triangle is the price action contained between horizontal support trendline and a falling trendline on resistance, indicates downtrend can come possibly (Hitting frequently on support and making that weak) with Lower highs on resistance and equal lows on support characterize this triangle pattern. So we can say it is a bearish formation in process and we can act accordingly after breakout.
Key Factors-:
A descending triangle is used in technical analysis to show a coming downtrend in a security’s price. It is formed by two trendlines (suport and resistance) Resistance line is falling while support level is horizontal.
Symmetrical Triangle -:
A symmetrical triangle is the price action by connecting the rising lows on support and lower highs on resistance of a security's price with Lower highs on resistance and higher lows on support characterize this triangle pattern, And specially in this triangle pattern it is very tough to predict about coming trend because from the bottom price rising and from the top price is declining and breakout can happen in any of direction.
Key Fcators-:
The symmetrical triangle tells us that the market is currently undecided about the future direction of the price action. The higher lows and the lower highs also signal that the market seems listless in its direction. Again, the market may seem more inclined to move in the direction of the existing trend.
Hope you like this Publication, Thanks for reading and giving your valuable time.
Best Regards- Amit
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