Triangle Apex Sell Signal
This chapter discusses the triangle apex sell signal, a method I have mentioned throughout this book, but one I wanted to dedicate some time to.
When any of the three varieties of triangles—ascending, descending, or symmetrical—are drawn on a chart, their apex can signal a turn in the price movement. The apex is the point where the two converging trendlines meet. Exhibit 26.1 shows examples.
Look at descending triangle A in the middle of the chart. Directly above the apex, I have drawn a blue line to A. Notice that the line meets the peak—a short-term turning point.
Descending triangle B, to the left, is not as successful ...
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