When the background evidence exists, it
might be worth your time to consider trading triangles.....as a reversal play. There's
been much written about triangles
being notorious as continuation patterns, but when supports are in place and a
well defined entry presents itself, maybe it's time to "close the
book" and find a new "angle" from which to trade.
10:41:39
Intraday
Setup Alert
Genentech (DNA)
is attempting an upside reversal out of an intraday symmetrical triangle. Today's
lows tested the 50% Fibonacci retracement from lows set last week, as well as
the established lows after a bullish gap higher on March 18th. The stock is down
2.07 at 34.32.

So, next time you see a triangle pattern with
confirming technical evidence, think about "continuing" to open up
your trading by skills by entering a trade contrary to what has widely been
written, and see a "reversal in your own fortune."
Chris Tyler