A triangle is a consolidation pattern that denotes a pause in the current trend. A triangle is represented by two converging trend lines within a narrow price range, resembling a triangular shape. After price moves out of the triangle (breakout/breakdown), and price resumes the previous trend prior to the pause, the triangle is then categorized as a continuation pattern. However, a breakout and hold above the triangle top (bullish), or a breakdown and hold below the triangle bottom (bearish), requires volume confirmation. Regardless of the consolidation pattern from which they emerge (triangles, rectangles, flags, pennants, etc.), increased volume activity is necessary to validate any breakout or breakdown.
As we all know, 2022 has been a painful year, and it continues to be so. What works during a bearish market are a few strategies: shorts, inverse ETFs, holding cash positions and day trading. Today we take a look at ATXI and see how we day traded it. Watch this video to get the technicals. Good trading! Trading Risk Disclaimer All the information shared is provided for educational purposes only. Any trades placed upon reliance of SharperTrades, LLC are taken at your own risk for your own account. Past performance is no guarantee. While there is great potential for reward trading stocks, cryptos, commodities, options, forex and other trading securities, there is also substantial risk of loss. All trading operations involve high risks of losing your entire investment. You must therefore decide your own suitability to trade. Trading results can never be guaranteed. SharperTrades, LLC is not registered as an investment adviser with any federal or state regulatory agency. This is