What are the three types of triangle chart patterns?

There are three types of triangle chart patterns — descending, ascending, and symmetrical. What Is Triangle Chart Pattern? How To Trade? A triangle chart pattern in technical analysis is formed by drawing upper and lower trendlines that converge as the asset’s price temporarily moves sideways.

What is a descending triangle chart?

A descending triangle is the opposite of an ascending one. This is a bearish triangle chart pattern that indicates that a financial instrument’s price keeps falling as the pattern completes itself. Similar to the other triangles, two trendlines establish the pattern.

What is a bearish triangle chart pattern?

This is a bearish triangle chart pattern that indicates that a financial instrument’s price keeps falling as the pattern completes itself. Similar to the other triangles, two trendlines establish the pattern. However, the supporting line here is flat, whereas the resistance line is downward-sloping.

What is a triangle pattern in stock trading?

A triangle pattern forms when a stock’s trading range narrows following an uptrend or downtrend, usually indicating a consolidation, accumulation, or distribution before a continuation or reversal. Triangle patterns come in three varieties – ascending, descending, and symmetrical – although all three types of triangles are interpreted similarly.