The triangle pattern
The triangle pattern consists of a support and resistance line; between the two lines are the price line; the line is moving upwards and downwards in a pattern.
If the price development is a triangle pattern the price development will end in a triangle as the images show.
The triangle pattern has different looks depending on the price development.
The ascending triangle
The triangle is called ascending as the price development is rising; the resistance line is flat and the support line is upwards; if the price line is as illustrated the most likely breakout is an uptrend.
The descending triangle
The triangle is called descending as the price development is falling; the resistance line is downwards and the support line is flat; if the price line is as illustrated the most likely breakout is a downtrend.
The symmetrical triangle
The triangle is called symmetrical as the price development is getting symmetrical smaller; the resistance line is downwards and the support line is upwards; if the price line is as illustrated the most likely breakout is almost equal between an uptrend or a downtrend.
Video illustrating the Triangle pattern
I was on YouTube and found a fellow explaining the Triangle pattern; he also gives some percents of how likely the breakout patterns are.
