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It’s true that there are different types of triangles. However, no matter the type of triangle, they all used to show when a breakthrough price is imminent. For example, there are rising/ascending triangles that foretell an imminent increase in prices and may be a probable breakup. Then there are falling triangles, which on the contrary foreruns a likely price fall. Depending on the kind of triangle, traders can successfully trade to make profits.
During an uptrend, price movements form an ascending triangle. However, to visually see the triangle, a trader has to draw two lines joining the resistance and support level. Resistance line is usually horizontal while the support line is normally located at an angle in an ascending triangle when the trend is rising. For the descending triangle during a downtrend, the support line is usually horizontal while the resistance line is normally inclined at an acute angle.
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