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Triangle pattern is another price pattern for short term technical analysis. The pattern of waves which form in a Triangular manner is called Triangle pattern.
Conditions:
Generally, it takes approximately one and half(1.5) month to form.
Buyers move up and sellers come down.
At the end of pattern, it may Break out up or down but with high volume.
In Triangle pattern 5 waves should form a triangle shaped structure.
The time duration to form this triangle shape should be minimum 1.5 months.
Triangle break out expected at 70% of zone.
Higher volume while break out.
It is a type of price pattern..the chart is form liked a triangle.
conditions are-
the duration of triangle to form is minimum of 2 month.
the break down is occur at 70% of trading area & the volume is high during the break down area
It’s one of the price pattern
We need to spot the five waves
The line connects Top and bottom should form triangle
The volume should be high while giving breakout
Breakout can take place on any of the side
It takes 45 days to form
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