There are four types of gaps, excluding the gap that occurs as a result of a stock going ex-dividend. Each type has its own distinctive implication so it is important to be able to distinguish between them.
Breakaway gap – occurs when prices break away from an area of congestion. When the price is breaking away...
This seems textbook from what i've read on thepatternsite.com so I applied that symmetrical ABCDE triangle to SPY. Short it to the 50MA and load heavy long positions under it. We all know which direction this will break(up)