On the topic of pattern recognition - which we weren't really except as an example of changing to suit the circumstances - here is one that can't be denied nor changed retrospectively.
Equilateral triangles, if they break out, will in a majority of cases break in the direction of the overall trend.
This one with LTR is textbook - the pattern forms, the overall trend is down and that's the way it breaks - so textbook in fact that so far the depth of the break is close to to the height of the triangle base,
New TA/Charting, page-7041
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| Last trade - 16.10pm 02/05/2024 (20 minute delay) ? |
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Change
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| Last updated 15.59pm 02/05/2024 ? | |||||
| LTR (ASX) Chart |