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Strategies & Market Trends : MDA - Market Direction Analysis

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Dec 8 4:00 PM EST

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To: TA Trader who wrote (1613)	12/14/1998 12:38:00 AM
From: Compadre	of 99985

TA Trader: Your definition is more or less what I understood the ascending triangle is. The confusion here is wether the ascending triangle requires it to be part of an up trend. My understanding is that it does not have to be part of a rising trend. And it could show up in a down trend occasionally. The mere existence of the ascending triangle implies that it could be part of both the up trend and the down trend. Since the Symmetrical triangle is defined as a trend follower. For the ascending triangle to be unique, it has to: 1.- Be a bullish pattern. 2.- To be valid either in an up trend or a down trend. This is what I understand it to be from "The Visual Investor" by John J. Murphy, and also from the following web site: chartpatterns.com But one thing is a book definition. Experienced traders like yourself, LG and Donald seem to think that the symmetrical triangle tend to break erratically, rather than being overwhelmingly a trend follower. If this is true, then I am so glad you guys told me so. Thank you so much for all your responses. I really appreciate your efforts. Regards, Jaime

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