Forex triangle chart pattern

forex triangle chart pattern

goes. However, in some cases, the support line will be too strong, and the price will bounce off of it and make a strong move. Both sides of the wedges are sloping in the same direction. Pennants, bitcoin cap value pennants on the chart have a similar shape to that of symmetrical triangles. However, there is more than one kind of triangle to find, and there are a couple of ways to trade them. The blue lines refer to the sides of the triangle, which contains the price action. What I referring to are the triangle trading patterns.

How to Trade, triangle, chart, patterns in, forex

forex triangle chart pattern

The pattern is negated if the price breaks below the upward sloping trendline. This is the consolidation after the first impulse of the bearish trend. Bearish Pennant As you have probably guessed, the bearish pennant is the mirror image of the bullish pennant. When an ascending triangle is formed during a bullish trend, we expect a continuation of the trend. Now the question is, Which direction will it go?