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Triangle

A technical analysis pattern created by drawing trendlines along a price range that gets narrower over time because of lower tops and higher bottoms. Variations of a triangle include 'ascending' and 'descending' triangles. Triangles are very similar to wedges and pennants.

Notes:

Technical analysts see a 'breakout' of this triangular pattern as either bullish (on a breakout above the upper line) or bearish (on a breakout below the lower line).

See also: Flag, Technical Analysis, Wedge

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triangle In technical analysis, a chart pattern indicating the convergence in the movement of successive high and low prices and characterized by a formation that resembles a triangle turned on its side. A triangle indicates a period of combat between bulls and bears with the technical analyst having to determine the winner. If prices break out of the triangle on the upside, it is a bullish sign. A breakout on the downside indicates the bears are winners. The closer the breakout occurs to the point of the triangle, the less conclusive the signal to buy or sell. Also called coil, flag, pennant, wedge. See also ascending triangle, descending triangle.

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