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On April 5th, Hong Kong Financial Secretary Paul Chan Mo-po stated in his blog that the average daily turnover of Hong Kong stocks in March exceeded HK$300 billion, an increase of over 8% compared to the same period last year. This reflects Hong Kongs status as a reliable safe haven for capital, coupled with the stable economic growth of mainland China and the large number of high-quality companies listing in Hong Kong, providing investors with abundant investment opportunities. Chan noted that as of March 27th, Hong Kongs IPO fundraising this year has exceeded HK$103 billion, ranking first globally. Including subsequent financing, the total fundraising scale is approximately HK$237 billion. More importantly, an increasing number of companies listing in Hong Kong are emerging industries, with over 500 applications currently in the queue. It can be said that more and more companies view Hong Kong as an important window for financing and overseas expansion.April 5th - According to the Israeli Ministry of Health, the total number of Israelis hospitalized due to the conflict since the outbreak of the US-Israel-Iraq conflict has risen to 6,833, with 138 still receiving treatment in hospitals.On April 5th, the Central Command of the Iranian Armed Forces, Hatem Anbia, announced that in response to the US actions to rescue its downed fighter pilot, Revolutionary Guard fighters, in conjunction with the Basij militia and with the cooperation of the Law Enforcement Commands commando unit, shot down and destroyed an enemy aircraft south of Isfahan. The Iranian Islamic Revolutionary Guard Corps also stated that, during the US pilot rescue mission, multiple departments of the Iranian armed forces collaborated to destroy an enemy aircraft. This information has not yet been confirmed by the US. On the same day, according to the New York Times website, two US military transport planes malfunctioned and became "stranded" while carrying out a pilot rescue mission in Iran. The US subsequently dispatched three new aircraft to continue the rescue mission and destroyed the two malfunctioning transport planes.April 5th - According to the China State Railway Group Co., Ltd., on April 4th, the national railway system transported 22.123 million passengers, setting a new record for single-day passenger volume during the Qingming Festival holiday. On April 5th, the national railway system is expected to transport 14.7 million passengers, with 768 additional passenger trains planned.Bahrains national oil and gas company confirmed that an incident occurred at one of its oil storage facilities on Sunday following an Iranian attack, resulting in a fire in the oil tanks. The fire has been completely extinguished, the situation is under control, and damage is currently being assessed. No casualties have been reported.

Triangle Chart Patterns(3)

Jason Douglas

Oct 25, 2021 13:27

 

Descending Triangle

A Descending Triangle is formed by lower swing highs, and swing lows that reach similar price levels. When the price moves at the end of the this pattern, it will breakout and fall down with high probability.

tr7.jpg

How to trade in a Descending Triangle?

Draw a trendline along the similar swing lows and a trendline of the falling swing highs of the Descending Triangle.

We can Buy when the price breakouts down the trendline, and place a loss stop at the recent swing high.

 tr8.jpg

 

The profit target is the height of the Descending Triangle Pattern. We can subtract the first falling low price from the first swing high price. This gives us the height of the pattern, also the profit space.

 tr9.jpg

 

Knowing how to recognize and trade triangles is a good skill to have. They are common, and useful in transaction.


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