Ascending, descending and symmetrical triangles

Prerequisite: A repeatable multi-timeframe process

On a small screen, scroll the figure sideways or open it full size.

Learning objective

Classify converging boundaries without assuming a guaranteed breakout direction.

An ascending triangle has broadly horizontal highs and rising lows; a descending one has broadly horizontal lows and falling highs. A symmetrical triangle has falling highs and rising lows. All describe contracting geometry, but individual feeds and swing definitions can change which boundaries look most reasonable.

Contraction means the distance between boundaries shrinks with time. It does not reveal the next direction. Breakout studies require an explicit close, buffer or retest rule and a deadline for validity; after price drifts past the geometric apex, the original triangle interpretation becomes less useful.

A widest-height projection is a traditional scenario, not a promised destination. Measure the original vertical height and state the breakout reference. A very late or tiny break may leave little useful distance after spread. Include breakouts on both sides and immediate returns inside the triangle in your records.

Common mistakes

Do not equate ascending with guaranteed bullish resolution. Overfitting lines to exclude inconvenient candles changes the studied pattern.

Practice

Sketch all three triangle types with six swing points each. State both upward and downward break criteria and a time cutoff, then mark one false break.

Sources & further reading

• CMC Markets — Chart patterns explained