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The pattern derives its name from the fact that it is characterized by a contraction in price range and converging trend lines, thus giving it a triangular shape. [1] Triangle patterns can be broken down into three categories: the ascending triangle, the descending triangle, and the symmetrical triangle.
On the technical analysis chart, a wedge pattern is a market trend commonly found in traded assets (stocks, bonds, futures, etc.).The pattern is characterized by a contracting range in prices coupled with an upward trend in prices (known as a rising wedge) or a downward trend in prices (known as a falling wedge).
When the price is breaking away from a triangle (Ascending or Descending) with a gap then it can be implied that change in sentiment is strong and coming move will be powerful. One must keep an eye on the volume.
On many chart patterns, any one of the two shoulders may appear broader than the other which is caused by the time involved in the formation of the valleys. The neckline may not be perfectly horizontal; it may be ascending or descending.
In March, a mother was horrified to find a pedophile symbol on a toy she bought for her daughter. Although the symbol was not intentionally placed on the toy by the company who manufactured the ...
(The Center Square) – The Olympia City Council is moving ahead with discussions on a potential increase in the minimum wage and the adoption of a Workers’ Bill of Rights that could include ...
The flag and pennant patterns are commonly found patterns in the price charts of financially traded assets (stocks, bonds, futures, etc.). [1] The patterns are characterized by a clear direction of the price trend, followed by a consolidation and rangebound movement, which is then followed by a resumption of the trend. [2]
Donald Trump said he will work to immediately reverse President Biden's action to protect 625 million acres from offshore oil and gas drilling.