Might want to try drawing a parallel channel there instead of playing the triangle , because it only a triangle till it isnt, Mostly flats
vanathi
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@JDcft, Different people, different views. You can draw what pattern you see in chart. Only thing is, it should be helpful in your trading.
gregferns
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@vanathi,
I agree fully with you here... Different people will see different patterns in the same chart..
The main goal should be that each person should be able to profit from it...
gregferns
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Hi
In a descending triangle breakout is normally (or rather supposed to be) on the UPSIDE ??
vanathi
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@gregferns, Supposed break out should be down, but as you know share market is full of surprises :)
Trade-Technique
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@gregferns, Trianle breakout has 50% changes of upside and vice-versa, 50% chance for downbreak. Therefore trade setup should be after the break out only. Risk and Rewards is important while trading in 3 - triangle patterns. You can also check reliablity of Triangle from the other resources, as per my view : avoid trading on it or watch only triangle 3patterns.