Pattern Recognition

Chart Patterns: Triangles, Flags, Wedges

7 min readTrading Reference Guide

Triangle Pattern

What it is: Price consolidates between converging support and resistance

Support (rising)Resistance (falling)ASCENDING TRIANGLEBREAKOUT UPTARGET

Pattern Types

Ascending Triangle: Support holds, resistance slopes down = BULLISH (breakout UP expected)

Descending Triangle: Resistance holds, support slopes up = BEARISH (breakout DOWN expected)