Slope of Hope Blog Posts

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Many Triangles Break Down (by Springheel Jack)

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Today's post will have to be short as I'm going out soon and will be out for most of the day. I have to be out most of Monday morning as well so Monday's post may also be short.

Obviously the symmetrical triangle broke downwards yesterday and broke down hard enough that I think it is unlikely to be a false break. This is disappointing from a probabilities perspective, mainly as these triangles are poor performers on downwards breakouts, with only a 48% chance of reaching the target in a break down. That statistic is in a bull market and Bulkowski hasn't even given a statistic for these in a bear market as they don't qualify as a high probability pattern in either direction in a bear market. You can see Bulkowski's page on these here.