2waytrading
Long

Bottom Traingle (Bullish Signal) Good chance to see 14% pop up

NASDAQ:CERN   CERNER CORP
118 1 1
A Bottom Triangle is one of a group of patterns which have the same general shape as Symmetrical Triangles, Wedges, Ascending Triangles and Descending Triangles. The difference is that the formations grouped together as this type are reversal and not continuation patterns. These patterns have two converging trend lines. The pattern will display two highs touching the upper trend line and two lows touching the lower trend line as you can see from the chart.. not very high reliable pattern and in most cases traders don't identify right. Our identification needs to be confirmed by the volume next few sessions which now is in a question mark? Volume is an important factor to consider. Typically, volume follows a reliable pattern: volume should diminish as the price swings back and forth between an increasingly narrow range of highs and lows. However, when the breakout occurs, there should be a noticeable increase in volume . If this volume picture is not clear, traders should be cautious about decisions based on this bullish bottom triangle. Volume is not where we wanted it to be, but it does not mean the pattern is not in a full cycle. Members will get option recommendation of this trade, but the rest are shared for educational purpose. If you like it follow us for more to come. Stay safe and tuned.
AYosof
2 years ago
how is this going today?
Reply
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