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RE: BITCOIN Update: Why is Volume Declining?
Ascending triangles has statistically higher chance of ending dropping :\ Especially in bearish trend..
Ascending triangles has statistically higher chance of ending dropping :\ Especially in bearish trend..
Very interesting. Can you relate per what source? Ascending right triangle occurs in a down trend. My source is
I cannot relate to any book :\ Good You have one for source.
However I can link to examples where the ascending triangles are trend followers as here:
https://www.tradingview.com/chart/AUDNZD/lo401hya-ASCENDING-TRIANGLE-TREND-CONTINUATION/
In bullish trend, they follow trend breaking in gains. In bearish trend they ends directing down targeting 100% height of whole triangle.
Thanks for sharing. I guess it two different schools of thought. I learned using like below examples. They're ancinent charts :-) as I used the 1997 edition.
Could you be talking about an ascending wedge?
Yes, ascending wedges has even higher chance of breaking down. No matter what trend it is
books say ascending wedges bearish
but ascending triangles bullish
@mys, the information is interesting, I did not know about this particularity of ascending triangles in a bear trend.