Monday, August 31, 2009

Symmetrical Triangles (Important Chart Patterns)

Chart formations where the slope of the price's highs & price's lows converge together to a point where it looks like a triangle.

This type of activity is called consolidation.

  • Buyers & sellers are fighting to push the price in their direction.
  • 2 slopes are getting closer to each other which means that breakout is getting near.
  • One side of a market will give in.

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