Gordon Scott has been an active investor and technical analyst or 20+ years. He is a Chartered Market Technician (CMT). Alistair Berg / Getty Images A triangle chart pattern is a tool used in ...

Symmetrical triangles, on the other hand, are thought of as continuation patterns developed in markets that are, for the most part, aimless in direction. The market seems listless in its direction.

Ascending triangle pattern breakdown target illustration. Beware of fakeouts. Some clues can be obtained by checking the accompanying trading volume. An uptick is typically seen as a sign of strength.

Nevertheless, each is a consolidation pattern. The expanding triangle can be either a continuation or reversal pattern. Top of Triangle Provides Possible Initial Target Following New Highs.