it seems possible that the E wave may get cut short
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A triangle wave pattern in stock trading is a chart pattern that represents a temporary pause or consolidation in the prevailing trend. It is formed by drawing trendlines along a converging price range, creating a triangular shape. There are three types of triangles: ascending, descending, and symmetrical.
Ascending triangles indicate a bullish continuation pattern, suggesting that the upward trend is likely to resume. Descending triangles, on the other hand, indicate a bearish breakdown pattern, suggesting that the downward trend is likely to continue.
Symmetrical triangles can break in either direction but tend to continue the previous trend. Traders should look for volume spikes and confirm the break with at least two closes beyond the trendline to validate a potential trade opportunity.
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Ascending triangles indicate a bullish continuation pattern, suggesting that the upward trend is likely to resume. Descending triangles, on the other hand, indicate a bearish breakdown pattern, suggesting that the downward trend is likely to continue.
Symmetrical triangles can break in either direction but tend to continue the previous trend. Traders should look for volume spikes and confirm the break with at least two closes beyond the trendline to validate a potential trade opportunity.