Ascending Triangles Ascending Triangle in an uptrend – bullish A formation in which the slope of price highs and the slope of price lows are converging to a point. The resistance line is parallel to the bottom edge of the chart while the support line is upward sloping. Place a buy order on a break up and out of the triangle. However, if the pattern fails, sell when the market breaks out and below the triangle. Descending Triangle in a downtrend – bearish The defining characteristic of descending right angle triangles is the pattern of declining highs and a series of equal lows. This combination of points can be connected to form a right angle triangle. The hypotenuse should be sloping from higher to lower and left to right. An illusory double bottom invites one last batch of weak hands to buy just before a sharp break signals major selling. Sell when price breaks out and down. Descending triangles are amongst the most reliable of all technical patterns because both supply and demand are easily defined. Symmetrical Triangles Symmetrical Triangle in an uptrend – bullish A symmetrical triangle is a formation in which the slope of price highs and lows are converging to a point. Support and resistance are sloping. Symmetrical triangles are formed by rallies and sell-offs, each smaller than the last. AS time moves on, an event is imminent. The move will be explosive. Place a buy order on a break up and out of the triangle but the price could go in the opposite direction… Symmetrical Triangle in a downtrend – bearish Place a sell order on a breakout below the triangle.