There are various price trending patterns. These patterns is an enhance to dow theory. They show the strength with which the trend is moving. The price patterns are briefed above.
Lathat, , Price Patterns, CUP, Double top bottom, flag, Head and Shoulder, lathat, price pattern, triangle
Hi,
This will be the appropriate answer for the question What is triangle pattern? What are the conditions to qualify as perfect triangle?:
Triangular Pattern – When both buyers and sellers are powerful
Conditions:
1. Triangle should be witnessed minimum 5 waves
2. If connect first two tops and two bottoms and extend the line, it should appear as a triangle
3. The Triangle is expected to give breakout around 70% of triangular area and it will be a powerful breakout when it happens with good volume.
4.Duration of Triangular Pattern is 45 days
Note: Breakout can appear either bullish or bearish Long Position or Short Position can be created according the breakout trend.
Thank you for your reply. It has sheds more light on what little i know.