Ascending Triangles is a bullish continuation pattern that is shaped like a right triangle consisting of two or more equal highs forming a horizontal line at the top.
DESCENDING TRIANGLE
Descending Triangles is a bearish continuation pattern indicating distribution consisting of two or more comparable lows forming a horizontal line at the bottom. Descending triangles are bearish patterns that indicate distribution. The definitive bearish signal of a descending triangle is when support on the lower rung of the triangle is broken.
SYMMETRICAL TRIANGLE
Also referred to as a coil, usually forms during a trend as a continuation pattern. It contains at least two lower highs and two higher lows. At the time these points are conjoined, the lines converge as they are extended and the symmetrical triangle takes shape. One can also think of it as a contracting wedge, wide at the beginning and narrowing over time.
EXTENDING TRIANGLE
Extending triangle does not occur frequently and is likely to be detected at tops and bottoms after lengthy price moves. Again a minimum of two tracking points for each trendline is needed before a breakout.
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