Triangle Patterns

Triangles are formed when the price breaks out from a trading range that is confined by two converging trendlines. When one line is ascending and the other descending the pattern is known as a “symmetrical triangle’. When one of the lines is at right angles to the vertical axis it is known as a “right angled triangle”. Ascending right-angled triangles develop in uptrends and descending right-angled triangles develop in downtrends.