Triangles are one of the most well-known chart patterns used in technical analysis.
The three most common types of triangles, which vary in construction and implications, are Symmetrical Triangle, Ascending Triangle and Descending Triangle.
These chart patterns are considered to last anywhere from a couple of weeks (ideally more than 12 weeks) to several months.
These are areas of consolidations after a trending move and are generally continuation patterns, i.e. the erstwhile trends resumes after the breakout.
However, in certain cases they act as reversal patterns. They can appear both in up-trend and down-trend.
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[…] often occurs when the price of an asset moves sideways, such as in a range or triangle pattern following a trend. A slowdown in the momentum—sideways movement or slow trending […]
[…] often occurs when the price of an asset moves sideways, such as in a range or triangle pattern following a trend. A slowdown in the momentum—sideways movement or slow trending […]