Aqa
2023-09-22

Triangle Chart Pattern is a stock chart resembles a triangke. It is depicted by drawing trendlines along a converging price range, that shows a pause in the prevailing trend. There is normally a double bottom. The triangles look like wedges or pennants. They can be either continuation pattern, or a reversal pattern. There are three types of triangles that can develop as price action carves out a holding pattern: 1. “Ascending triangle”: Bullish breakout pattern with a horizontal upper trendline (resistance) and a rising lower trendline (higher lows). Buyers eventually push the stock price above resistance with rising volume. 2.”Descending triangle”: Bearish breakdown pattern with a horizontal lower trendline(support) and a declining upper trendline, 3. Symmetrical triangle: Pattern with a falling upper trendline and a rising lower trendline. It can leads to Breakout to an uptrend, or break below the lower trendline to a downtrend. Here is Bank of China going to break out and trend up. //@MillionaireTiger:

Welcome to Thursday Special!

Whether you are a beginner or an experienced investor, everyone has their own opinions on the stock market trends. How do you make these judgments?

Let's start a series of learning patterns and apply them to individual stock trends.

Can you spot the “triangle” in this pic?

Could you guess which stock this is based on the following trend?

What Is a Triangle Chart Pattern?

The triangle chart pattern is named as such because it resembles a triangle. It is depicted by drawing trendlines along a converging price range, that connotes a pause in the prevailing trend. Technical analysts categorize triangles as continuation patterns of an existing trend or reversal. The essential characteristics of the double bottom pattern are as follows:

  • Triangles are similar to wedges and pennants and can be either a continuation pattern, if validated, or a powerful reversal pattern, in the event of failure.

  • There are three potential triangle variations that can develop as price action carves out a holding pattern, namely ascending, descending, and symmetrical triangles.

    TriangleTriangle

Ascending Triangle:

Bullish breakout pattern with a horizontal upper trendline (resistance) and a rising lower trendline (higher lows). Buyers eventually push the price above resistance with rising volume.

Descending Triangle:

Bearish breakdown pattern with a horizontal lower trendline (support) and a declining upper trendline. Price collapses through the lower support as a downtrend resumes.

Symmetrical Triangle:

Pattern with a falling upper trendline and a rising lower trendline. Breakout above the upper trendline leads to an uptrend, while breaking below the lower trendline results in a downtrend.

💭So, today's homework is to find a stock with a triangle chart pattern!

Please take a screenshot and highlight the triangle chart pattern.

For example: $Salesforce.com(CRM)$

🎁Prizes

Comment Rewards:

All Tigers who leave valid comments in the comments section will receive Tiger Coins but don’t copy others’ homework hahaha.

Editor's Pick Post Rewards:

If you plan to share content over 500 characters, we strongly recommend selecting the "Also repost" button when posting a comment.

This way, your content will have a chance to be selected as a "Picked Post" and receive a reward of 200 Tiger Coins automatically! In addition, if your post gains high popularity, there's also a chance to win US$15-25 voucher rewards in our weekly "Creator Incentive Program."

【Thursday Special】Could You Find Triangle Chart Pattern?

@MillionaireTiger：
Welcome to Thursday Special! Whether you are a beginner or an experienced investor, everyone has their own opinions on the stock market trends. How do you make these judgments? Let's start a series of learning patterns and apply them to individual stock trends. Can you spot the “triangle” in this pic? Could you guess which stock this is based on the following trend? What Is a Triangle Chart Pattern? The triangle chart pattern is named as such because it resembles a triangle. It is depicted by drawing trendlines along a converging price range, that connotes a pause in the prevailing trend. Technical analysts categorize triangles as continuation patterns of an existing trend or reversal. The essential characteristics of the double bottom pattern are as follows: Triangles are similar to wedges and pennants and can be either a continuation pattern, if validated, or a powerful reversal pattern, in the event of failure. There are three potential triangle variations that can develop as price action carves out a holding pattern, namely ascending, descending, and symmetrical triangles. Triangle Ascending Triangle: Bullish breakout pattern with a horizontal upper trendline (resistance) and a rising lower trendline (higher lows). Buyers eventually push the price above resistance with rising volume. Descending Triangle: Bearish breakdown pattern with a horizontal lower trendline (support) and a declining upper trendline. Price collapses through the lower support as a downtrend resumes. Symmetrical Triangle: Pattern with a falling upper trendline and a rising lower trendline. Breakout above the upper trendline leads to an uptrend, while breaking below the lower trendline results in a downtrend. 💭So, today's homework is to find a stock with a triangle chart pattern! Please take a screenshot and highlight the triangle chart pattern. For example: $Salesforce.com(CRM)$ 🎁Prizes Comment Rewards: All Tigers who leave valid comments in the comments section will receive Tiger Coins but don’t copy others’ homework hahaha. Editor's Pick Post Rewards: If you plan to share content over 500 characters, we strongly recommend selecting the "Also repost" button when posting a comment. This way, your content will have a chance to be selected as a "Picked Post" and receive a reward of 200 Tiger Coins automatically! In addition, if your post gains high popularity, there's also a chance to win US$15-25 voucher rewards in our weekly "Creator Incentive Program."
【Thursday Special】Could You Find Triangle Chart Pattern?

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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Comment（7）

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  • Aqa
    ·2023-09-22
    @GriseldaBrown Yes the triangles works in all markets and all types of investment. Your observation about AMZN is correct as shown in today’s trading chart. Market is pricing in amzn’s possible increase in future revenue.
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  • HarryCox
    ·2023-09-22

    Ya helpful technical indicator Thanks for sharing this. Hope to hear more

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  • frostiix
    ·2023-09-22

    I went to AIP Con & believe PLTR is a better AI play. CRM just doesn’t have the same capabilities.

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  • Aqa
    ·2023-09-22
    @AugustineMac- I am learning technical analysis.
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  • snixxx
    ·2023-09-22

    if you don't mind a long term strategy, get onboard.

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  • jingli
    ·2023-09-22

    Easy. The next pattern is an ascending triangle.

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  • Aqa
    ·2023-09-22
    @BorgPetty Yes, follow closely the stocks that we like to invest.
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