Replies to Post #7200 onWest Coast Ventures Group Corp (fka WCVC)

Replies to #7200 on West Coast Ventures Group Corp (fka WCVC)

02/05/21 8:42 AM

#7204 RE: trader53 #7200

WCVC - Symmetrical Triangle - BREAKOUT Target

BREAKOUT Target 0.0030

Symmetrical Triangle - Breakout Explained

Symmetrical Triangles

are usually continuation patterns

with converging trend lines.

Ideally,
a stock breaks out from a Symmetrical Triangle

prior to reaching the Apex of the triangle
with volume expansion.

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Chart Patterns

http://stockcharts.com/school/doku.php?id=chart_school:chart_analysis:chart_patterns

Symmetrical Triangles

http://stockcharts.com/school/doku.php?id=chart_school:chart_analysis:chart_patterns:symmetrical_triangle_continuation

http://thestockbandit.com/symmetrical-triangle/

http://thepatternsite.com/st.html

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Trend:

In order to qualify as a continuation pattern,
an established trend should exist.

The trend
should be at least a few months old
and the symmetrical triangle
marks a consolidation period
before continuing after the breakout.

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Price Target:

There are two methods
to estimate the extent of the move after the breakout.

First,
the widest distance of the symmetrical triangle
can be measured and applied to the breakout point.

Second,
a trend line can be drawn
parallel to the pattern's trend line
that slopes (up or down) in the direction of the break.

The extension of this line
will mark a potential breakout target.

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