chart, ta thread., page-22

Very loose fitting patterns like that are more often indicitive of price drops. The major hits are occuring on the bottom support line, another major bearish signal. You'll find it's more of a symetrical triangle. Personaly I wouldn't use that pattern as the criteria is presently wrong, but as you've used it I'll point out how history may repeat itself. By your own admission you are a novice chartist, my advice would be for you to look at the entire chart to get the real picture.