Ascending Triangle
Description: Characterized by a horizontal upper trendline and an upward-sloping lower trendline. It indicates a potential continuation of the current trend, usually bullish.
Impact on Price: A breakout above the horizontal resistance line often signals a continuation of the uptrend, leading to higher prices. Traders may enter long positions on the breakout with a stop-loss below the upward-sloping trendline.
descending Triangle
Description: Features a horizontal lower trendline and a downward-sloping upper trendline. It typically signals a bearish continuation of the current trend.
Impact on Price: A breakout below the horizontal support line indicates a continuation of the downtrend, leading to lower prices. Traders may enter short positions on the breakout with a stop-loss above the downward-sloping trendline.
Symmetrical Triangle
Description: Description: Formed by converging trendlines, one upward-sloping and one downward-sloping. This pattern suggests a period of consolidation before a breakout in either direction.
Impact on PriceA breakout in the direction of the prior trend (up or down) signifies a continuation of that trend. Traders may enter positions based on the breakout direction, with stop-loss orders set below (for bullish breakouts) or above (for bearish breakouts) the pattern.>