Triangle

A triangle is a consolidation pattern in which the price range narrows progressively, forming two converging trendlines on the chart and usually preceding a breakout. Three types exist: ascending (breaks up in roughly 70% of cases), descending (breaks down in roughly 65%), and symmetrical, which most often continues the higher-timeframe trend. Falling volume during formation and a volume spike on the breakout are the classic signature of a genuine triangle.