Triangle Breakout – Bearish

The double bottom sell pattern that occurs after the triangle pattern is a bearish triangle breakout.

Triangle is a pattern of convergence. A convergence breakout pattern is triggered when it is followed by a bearish double bottom sell pattern.

After the downside breakout of the convergence breakout pattern, a strong down move is expected. Triangle breakout patterns offer affordable trading opportunities.

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This pattern can be plotted on the chart by adding it from the Add study menu in TradePoint & Patterns in RZone. The pattern is also available in the System Builder section. By combining this pattern with other patterns and indicators, you can create your own trading strategies. For any group of stocks and market segments, you can scan and backtest stocks based on those strategies.