$YPF Triangle. 4 good support. So far, we have seen two triangle patterns: one from an uptrend and bullish market move and one from a downtrend with a decidedly bearish look. 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. The supply and demand, therefore, seem to be one and the same.
During this period of indecision, the highs and the lows seem to come together at the point of the triangle with virtually no significant volume. Investors just don't know what position to take.
However, when the investors do figure out which way to take the issue, it heads north or south with big volume in comparison to that of the indecisive days and/or weeks leading up to the breakout. The breakout generally occurs in the direction of the existing trend. But, if you are looking for an entry point following a symmetrical triangle, jump into the fray at the breakout point.
During this period of indecision, the highs and the lows seem to come together at the point of the triangle with virtually no significant volume. Investors just don't know what position to take.
However, when the investors do figure out which way to take the issue, it heads north or south with big volume in comparison to that of the indecisive days and/or weeks leading up to the breakout. The breakout generally occurs in the direction of the existing trend. But, if you are looking for an entry point following a symmetrical triangle, jump into the fray at the breakout point.