Trading Support & Resistance Levels
April 20, 202112:00 pm1 hour
A triangle is a pattern that appears on a financial price chart. Triangles work great for all assets, including forex, cryptocurrency, commodities, and more.
Triangles develop in the short term and long-term time frames and are created by drawing trendlines along a converging price range. ... Triangles are similar to wedges and pennants and can be powerful continuation or reversal patterns. Technical analysts see a breakout of a triangular pattern as either bullish or bearish.
A triangle pattern involves price moving into a tighter and tighter range as time progresses and provides a visual display of a tightly contested battle between buyers and sellers. Eventually, one side is victorious, and a definite move away from the pattern may occur. The triangle pattern is generally considered a "continuation pattern," with the anticipation that price will resume moving in the direction it was headed before the design appears. Often triangle patterns serve as a consolidation phase where price regains its strength to proceed in its primary trend.
John is an active trader and educator at JustLearn Academy with an MBA in Finance from New York University. He began trading in 1995 focusing mainly on commodities and options, then transformed into forex investment. His current specialization covers all aspects of cryptocurrency and digital asset trading utilizing fundamental and technical analysis, namely chart pattern analysis. Mr. Roman has conducted training seminars on all over the world from novice to innovative strategies. He provides a solid, collaborative and extremely encouraging training atmosphere to assist traders in locating and trading momentum moves, using confirmed patterns and methods.