I read on investopedia that when prices reaches new highs on falling volume, watch out; a reversal might be taking shape. Also I read that ascending triangles can result in reversals approximately 25% of the time.
The other problem is that ascending triangles normally form over a period of a few weeks up to about 90 days. I would wait a few days after the price closes above the the trendline before longing longing stock.
The other problem is that ascending triangles normally form over a period of a few weeks up to about 90 days. I would wait a few days after the price closes above the the trendline before longing longing stock.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.