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Trading Psichology

3 Topics
Entering Trades

5 Topics
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Fibonacci

8 Topics
Parallel Channels

4 Topics
Patterns

8 Topics
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Volume

5 Topics
Footprints

5 Topics
Tools and Charts

4 Topics
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11 Topics
Master Level

TPO Series

8 Topics
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**Triangle patterns** occur during a range and for the most part a continuation pattern.

There are three types of **triangles ****** found on a chart:

**Ascending Triangles **- Typically break to the upside

**Descending Triangles ** - Typically break to the downside

**Symmetrical Triangles** - A continuation pattern that can break to either up or downside.

Like other patterns, **triangles** can be seen almost everywhere on a chart.

**Triangle patterns** occur during a range and for the most part a continuation pattern.

There are three types of **triangles ****** found on a chart:

**Ascending Triangles **- Typically break to the upside

**Descending Triangles ** - Typically break to the downside

**Symmetrical Triangles** - A continuation pattern that can break to either up or downside.

Like other patterns, **triangles** can be seen almost everywhere on a chart.

Knowing how to identify the structure of a textbook **triangle** will tell you if it's valid or not.

**Triangles** can appear similar to **wedge patterns** and **pennants,** so make sure you are identifying the correct pattern.

As always you never want to trade this pattern alone, use additional **confluence** factors such as; **volume** and **Fibonacci levels. **

**
Key Points of the Lesson
UTILITY
**

3 types of triangles:

Ascending

Descending

Symmetrical

Generally, triangles are continuation patterns.

Used for generating possible price targets based on the height of the triangle.

There have to be several touches on the top and bottom edges. ⇒ Important to have no “white space”.

Volume should decline up to the apex ⇒ increase on breakout/breakdown.

Price target ⇒ extend the height of the triangle from the breakout/breakdown point.

Possibilities to trade a triangle:

(Aggressive) entry within the triangle ⇒ higher risk and reward.

At the break of the trendline with increasing volume (entry with market order).

At the backtest of the trendline break.

ASCENDING TRIANGLE PRACTICAL EXAMPLE

TIPS & TRICKS

Volume is very important on the breakout/breakdown.

Low volume breakout/breakdown ⇒ possible fake out!

Generally, we can expect continuation of the previous trend before entering the triangle.

Can be used in Elliot Wave theory:

Triangles are labelled with ABCDE touches.

Use Fibonacci retracement and target 0.618 rejections/bounces on the edge.

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