Chart Pattern: The Triangle Pattern

In earlier posts is the diamond chart pattern and the head and shoulder pattern illustrated; in this post is the illustration the triangle pattern.

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.