⁣The Triangle Pattern is a continuation pattern formed by converging trendlines, where the price moves within a narrowing range. It can be an indication of consolidation before a breakout in either direction. There are three types of triangle patterns: 🔹Ascending Triangle: The upper trendline is flat, and the lower trendline is slanting upwards. It indicates strong support and suggests that the price is likely to break out upwards. 🔹Descending Triangle: The lower trendline is flat, and the upper trendline slopes downward. It indicates strong resistance and suggests that the price is likely to break out downwards. 🔹Symmetrical Triangle: Both trendlines converge at a similar angle, and the price moves within a balanced range. This is a neutral pattern, and the price can break out in either direction. Key Point: Triangles indicate that the market is consolidating, and when the price breaks out of the triangle, it often leads to a strong move in the direction of the breakout. Example: In an ascending triangle, the price keeps testing the resistance level but never breaks above. Once the price breaks out above this level, it indicates that a bullish trend is likely to follow.