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re: to poyndexter use a girdle 5. Forecasting Implications - The descending triangle is considered to be bearish. Bulkowski, however, warns that only 55% of developing descending triangles actually prove to be bearish. However, if investors wait for a valid breakout, then the success rate increases to 96%. Statistics compiled by Bulkowski show that descending triangles are less likely to hit their target prices than ascending ones. According to Edwards and Magee, volume confirmation is more important for ascending triangles than descending ones.
6. Shape of Descending Triangle - Prices should rise to hit the upper trendline at least twice (two highs), then fall away. Prices should fall to the lower trendline at least twice (two lows), then rise. The horizontal bottom trendline need not be completely horizontal but it often is and, in any event, it should be close to horizontal.




Hey only 55% I must remember that one


Hey Fuk Edwards and Magee
the vols didnt give us any confirmation
BTW this is giving me a gut ache
imserpatico bro
Mr Creosote vomits on the Chartz