Triangle patterns occur during a range and for the most part a continuation pattern.
There are three types of triangles found on a chart:
Ascending Triangles - Typically break to the upside
Descending Triangles - Typically break to the downside
Symmetrical Triangles - A continuation pattern that can break to either up or downside.
Like other patterns, triangles can be seen almost everywhere on a chart.
Knowing how to identify the structure of a textbook triangle will tell if you it's valid or not.
Triangles can appear similar to wedge patterns and pennants, so make sure you are identifying the correct pattern.
As always you never want to trade this pattern alone, use additional confluence factors such as; volume and Fibonacci levels.
Time Stamps
2:05 – ENG PREVIOUS COTW (DO NOT TRADE THIS)
23:36 – CHECKLIST BEFORE ENTERING A TRADE
ENTRY of a trade setup (probabilities of winning)
SL – clear invalidation
TP – resistances, targets
After three ticks – is the R:R ratio at least 2:1, preferably 3:1
33:46 – ASCENDING TRIANGLE
47:37 – DESCENDING TRIANGLE
52:24 – SYMMETRICAL TRIANGLE
57:34 – BTC TA and Q&A