nice trade setup forming, page-6

Hi Nightstalker,

Thanks for taking the time to comment on my post. However, what you say is factually incorrect. Volume should almost always decrease throughout the formation of a pattern and increase on the breakout.

From the link below:
'As the pattern develops, volume levels usually lessen and are quite flat. This is simply a quiet period before the storm. When the upside breakout occurs, there should be an expansion of volume to confirm the breakout and continuation of the current up-trend (or reversal of the prevailing down-trend).

Characteristics of Ascending Triangles

Also, any triangle can break either way, though obviously an ascending triangle has a natural bullish bias.

The set-up is a classic ascending triangle which are most often observed as a continuation pattern in an up-trend but are strong reversal signals when witnessed in a down-trend.

Cheers
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