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08/25/07 10:55:18 AM -0700
Ascending triangles occur when there
is a resistance level and a slope of
higher lows. The buyers cannot
seem to exceed a certain level.
However, they are gradually pushing the
price up.
So the question is - Which direction
will it go? - Will the buyers be able to
break that resistance or not?
Nobody knows. From my
experience, I'd wait for confirmation.
Sometimes the resistance level is too
strong, and there is simply not enough
buying power to push it through.
Sometimes, the buying power is strong
and the price breaks the resistance.
It continues to go up and never looks
back.
Click the image to see the full size
Important Chart Patterns < -- >
Descending Triangles
Last
Updated:
Sunday, October 07, 2007 10:27:33 AM -0700 |
