Difference between a symmetrical triangle, Penant and Wedge.

sh50

Active Member
#1
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?
 

Traderji

Super Moderator
#2
sh50 said:
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?
The pennant is a smaller version of a triangle in terms of time.
 

sh50

Active Member
#3
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?
 

Traderji

Super Moderator
#4
sh50 said:
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?
It could go beyond months also.

The longer the consolidation the bigger the move after the breakout.
 

sh50

Active Member
#5
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?
 
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