Types of triangles
There are mainly three types of triangles chart patterns.
  1. Symmetrical Triangle : formed in both uptrend and downtrend. Price generally moves on the side of which the break has happened.
  2. Ascending Triangle : formed in uptrend usually and is a bullish pattern.
  3. Descending Triangle : formed in downtrend usually and is a bearish pattern.
These are very strong chart patterns in Trading. In laymen terms, and Triangles are nothing more but like a catapult, storing potential energy that energy is released with what we know as breakouts or breakdowns. The price of a stock just catapults/accelerates after leaving the triangle zone. Due to this phenomenon these are favorite of traders who follow breakouts or breakdowns. Coiled spring is the name used mostly with the symmetrical triangle.

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