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Point and Figure Charts: Triangles

by admin December 4, 2018 1 min read 0 comments

Key Takeaways

  • Market conditions and their impact on trading decisions
  • Key levels and price action analysis
  • Risk management strategies for this setup

For a valid Point and Figure triangle there must be at least two retracements counter to the prevailing trend: two falling columns of Os in an up-trend or two rising columns of Xs in a down-trend.

Symmetrical

Ford [F] presents an example of a symmetrical triangle at [11] on the chart below.

ford motor triangle on point and figure chart

The Point and Figure chart also presents a good example of a wide bear trap at [10].

Ascending & Descending Triangles

You will also find (bullish) ascending and (bearish) descending triangles on Point and Figure charts.

flight centre ascending triangle on point and figure chart

Flight Centre (Australia) presents a good example of a bullish ascending triangle on the Point and Figure chart, with equal highs and two ascending columns of Xs (with higher lows).

Trading Data Snapshot

Always verify current market conditions before executing any trade. Past performance does not guarantee future results.

A
admin
Trading analyst and market commentator with expertise in technical analysis, price action, and risk management. Dedicated to helping traders make informed decisions.

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