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Author Topic: Bullish Ascending Triangle Chart Pattern  (Read 3875 times)
RyNinDaCleM
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April 01, 2013, 07:17:51 PM
 #21

Not bad I don't think, I don't see anything that indicates a change in trend at least.
If coins are selling for $100+ on other exchanges i think we're good.


this looks good, but i'm still not well enough versed in TA yet to confirm:
http://stockcharts.com/school/doku.php?id=chart_school:chart_analysis:chart_patterns:flag_pennant_continu
http://bitcoincharts.com/charts/mtgoxUSD#rg30zig6-hourzczsg2013-03-19zeg2013-04-02ztgSzm1g10zm2g25zv
would you guys say we're forming another one at the moment?

No! It has a triangular shape but not a triangle.
A triangle has a flat top, ascending bottom. A flat bottom, descending top. Or a symmetrical triangle with descending top and ascending bottom.

If it has both ascending/descending lines, it makes a wedge. A true wedge is only found in a wave-1, wave-5, wave-A and wave-C. waves 1 and A are leading diagonals while waves 5 and C are ending diagonals.

Triangles are corrective and All wedges are impulsive.

So....

Good? Bad? Pretend we're retarded children.

I think the market has spoken! Wink

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