SOL (SOLANA) Which ever break first ?
What is a Symmetrical Triangle
A symmetrical triangle is a chart pattern characterized by two converging trend lines connecting a series of sequential peaks and troughs. These trend lines should be converging at a roughly equal slope. Trend lines that are converging at unequal slopes are referred to as a rising wedge, falling wedge, ascending triangle, or descending triangle.
What Is a Pennant?
In technical analysis, a pennant is a type of continuation pattern formed when there is a large movement in security, known as the flagpole, followed by a consolidation period with converging trend lines—the pennant—followed by a breakout movement in the same direction as the initial large movement, which represents the second half of the flagpole.
if it break the upside this could be a reversal but if it breaks the downside this could be a continuation
how to trade this pattern?
1. wait for a breakout
2. after break wait for a retest on a trend line
#Learnbestill
#100YrsChartPattern
A symmetrical triangle is a chart pattern characterized by two converging trend lines connecting a series of sequential peaks and troughs. These trend lines should be converging at a roughly equal slope. Trend lines that are converging at unequal slopes are referred to as a rising wedge, falling wedge, ascending triangle, or descending triangle.
What Is a Pennant?
In technical analysis, a pennant is a type of continuation pattern formed when there is a large movement in security, known as the flagpole, followed by a consolidation period with converging trend lines—the pennant—followed by a breakout movement in the same direction as the initial large movement, which represents the second half of the flagpole.
if it break the upside this could be a reversal but if it breaks the downside this could be a continuation
how to trade this pattern?
1. wait for a breakout
2. after break wait for a retest on a trend line
#Learnbestill
#100YrsChartPattern