Forming a picture perfect descending triangle
Hey guys,
AAL is forming a perfect descending triangle. I would imagine this will run up and retest the trend line above one more time. Whatever the case, I would be ready to go long or short based on a breakout. Most of the time these break out downward.. but sometimes they pop up. 75% chance of a break down, 25% chance of a break up. It all depends on how many buyers come in at the bottom support line. Happy Trading!
- Matt
AAL is forming a perfect descending triangle. I would imagine this will run up and retest the trend line above one more time. Whatever the case, I would be ready to go long or short based on a breakout. Most of the time these break out downward.. but sometimes they pop up. 75% chance of a break down, 25% chance of a break up. It all depends on how many buyers come in at the bottom support line. Happy Trading!
- Matt