Right-Angled Triangles Price/Chart Pattern
Right-angled triangles are really a special form of the
symmetrical type.
Right-angled triangles are really a special form of the symmetrical type,
in that one of the two boundaries is formed
at an angle of 90 degrees, that is,
horizontal to the vertical axis. The
symmetrical triangle does not give an
indication of the direction in which it is
ultimately likely to break, but the right-angled
triangle does, with its implied level of
support or resistance and contracting price
fluctuations.
O
ne
difficulty in interpreting these formations
is that many rectangles begin as
right-angled triangles. Consequently, a
great deal of caution should be used when
evaluating these elusive patterns.
Traditionally,
measuring objectives for triangles are
obtained by drawing a line parallel to the
base of the triangle through the peak of the
first rally. This represents the price
objective that prices may be expected to
reach or exceed.
price patterns/chart patterns -
Right-Angled Triangles Price/Chart Pattern
