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Triangle pattern is when the price moves in a consolidation mode with a gradual increase in buyers.
The triangle area should be minimum 45 days.
Volume should increase when the price breaks out in a positive trend.
Triangle pattern is a price pattern which is formed like triangle in shape.
Conditions:
- There should be 5 waves. where A,C,E are bottom and B,D are top of wave, each bottom should be higher than previous and each top has a lower than previous to converge as a triangle at extended point.
- It takes minimum 45 days
- It should happen around 70% of the triangle with higher breakout in volume.
- If the breakout is upwards, then it is bullish trend, so create long position.
- If the breakout is downwards, then it is bearish, so create short position.
Triangle pattern are in triangle shape and it indicates a trend consolidation and it is converged
Spot 5 waves with A , C and E being the bottom and B and D being the top and connect the two top and extend it similarly connect 2 bottoms and extend ti to form a triangle shape.
It takes min 45 days to form the triangle
The breakout should happen at 70% of the triangle and it can be either positive or negative because both buyer and seller are strong here and the volume will be high during break out.
If positive then it is bullish and negative means it is bearish.
triangle pattern is price pattern which shows a equal strength fight between buyer and seller with good volume during 45 days in which the tops and bottoms are tend to converge during 45 days and gives a positive or negative brake out since the fight between buyer and seller are difficult to guess who is strong.
5 wave corrective pattern should form a triangle.This shows both the buyers and sellers are aggressive.
Conditions:
1. Triangle area should be minimum 45 days
2. Volume should be high at the breakout
3. Breakout is expected around the 70% of the triangle zone.
If it breaksout upward,then it is bullish trend, so create long position.
If it breaksout downward,then it is bearish trend, so create short position.
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