| 08/27/07 05:05:32 PM -0700
Descending triangles are the exact
opposite of
ascending triangles. In
descending triangles, there is a string
of lower highs and a upper line.
In the chart below, the price is
gradually making lower highs which
indicates that the sellers are gaining
some momentum. However, the
momentum is not strong enough to break
the support level. Most of the
time, the price will eventually break
the support line and continue to fall.
However, in some cases the support
line is too strong, and the price will
rebound from the support level and make
a strong move up.
Click the image to see the full size
Ascending Triangles < -- >
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Last
Updated:
Sunday, October 07, 2007 10:27:32 AM -0700 |
