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| Discuss Difference between a symmetrical triangle, Penant and Wedge. at the Technical Analysis within the Traderji.com - Discussion forum for Stocks Commodities & Forex; Books say that they are quite similar. Wedges are of course different and Symmetrical triangle, ... |
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#1
5th October 2004, 07:55 AM
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Difference between a symmetrical triangle, Penant and Wedge.
Books say that they are quite similar. Wedges are of course different and Symmetrical triangle, the breakout can be in either direction.That apart, perhaps the time factor makes it different from a Penant. Any other differences you can pinpoint, traderji?
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#2
5th October 2004, 09:59 AM
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Re: Difference between a symmetrical triangle, Penant and Wedge.
Quote:
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#3
5th October 2004, 08:38 PM
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Re: Difference between a symmetrical triangle, Penant and Wedge.
Thanks. Kindly clarify one more thing. The time factor varies with different stocks. In some stocks, one may find many flags, penants etc intra-day , some inter-day within a week and some inter-week within a month or could they be beyond months also?
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#4
6th October 2004, 10:06 AM
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Re: Difference between a symmetrical triangle, Penant and Wedge.
Quote:
The longer the consolidation the bigger the move after the breakout.
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#5
7th October 2004, 05:28 PM
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Re: Difference between a symmetrical triangle, Penant and Wedge.
Coming to the original question
Triangles, wedges, head and shoulders, double and triple tops, divergences have both got their opposites. Rectangles and Symmetrical triangles can go either way so one has to be careful anyway. That leaves only Falgs and Penants. They too go either side. That means all patterns can go both ways, is it not? Last edited by sh50 : 31st January 2005 at 08:11 PM.
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