Keyword Analysis & Research: metastock charts symmetrical triangle
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Frequently Asked Questions
The symmetrical triangle marks a consolidation period before continuing after the breakout. Four (4) Points: At least 2 points are required to form a trend line and 2 trend lines are required to form a symmetrical triangle. Therefore, a minimum of 4 points are required to begin considering a formation as a symmetrical triangle.How long does a symmetrical triangle last?
Duration: The symmetrical triangle can extend for a few weeks or many months. If the pattern is less than 3 weeks, it is usually considered a pennant. Typically, the time duration is about 3 months. Breakout Timeframe: The ideal breakout point occurs 1/2 to 3/4 of the way through the pattern's development or time-span.Are symmetrical triangles continuations or reversals?
In Technical Analysis of Stock Trends (1948), Edwards and Magee suggest that roughly 75% of symmetrical triangles are continuation patterns and the rest mark reversals. The reversal patterns can be especially difficult to analyze and often have false breakouts.What is MetaStock CPR?
CPR automatically scans through your securities looking for specific patterns. It even finds those that are most likely to produce the best trading opportunities. There is no other product on the market that implements the experience and expertise of John Murphy with the computerized technology of MetaStock.