Anyone fimiliar with broading triangle?

wmwmw · May 25, 2020

Daily SPX chart forms a broadening triangle pattern, which is bearish and a top signal.
To be specifically, on spx daily chart,5/14 low was lower than 5/4 low,and 5/20 high was higher than 5/12 high.

Trader Curt · May 25, 2020

You just answered your own question.

wmwmw · May 25, 2020

That's all I knew about this chart pattern, but I would like to know if there is someone who knows better.

Trader Curt · May 25, 2020

There is really nothing else to know, the majority of the time it's bearish. Time to play it as such

volpri · May 25, 2020

wmwmw said:
Daily SPX chart forms a broadening triangle pattern, which is bearish and a top signal.
To be specifically, on spx daily chart,5/14 low was lower than 5/4 low,and 5/20 high was higher than 5/12 high.

Why don’t you post the chart. I might feel giddy enough to make a few comments. Whether they will be useful or not is a totally different story!

never2old · May 25, 2020

wmwmw said:
Daily SPX chart forms a broadening triangle pattern, which is bearish and a top signal.

To be specifically, on spx daily chart,5/14 low was lower than 5/4 low,and 5/20 high was higher than 5/12 high.

it will waffle, yet it looks like the S&P will hit its February 19 close of 3386 by end of June.

maxinger · May 25, 2020

I don't see any broading triangle.

day chart seems to show there is rising channel.

pse show your diagram.

systematictrader · May 26, 2020

looks consolidating and going upwards, plus green macd signal, where the hell is this triangle on one min chart?

never2old · May 26, 2020

wmwmw said:
Daily SPX chart forms a broadening triangle pattern, which is bearish and a top signal.
To be specifically, on spx daily chart,5/14 low was lower than 5/4 low,and 5/20 high was higher than 5/12 high.

what do the charts say now?

wmwmw · May 26, 2020

never2old said:
what do the charts say now?

No change.
DOW,RUT,SPX all have broadening triangles.
Only NDX has been bullish.