Help with triangles

[wbosher]

I've become a little obsessed lately with finding triangles. The one below doesn't really interest me from a trading perspective but I'm curious as to what it could be, if anything. Is this a descending triangle in the making, a symetrical triangle (if you go back a little bit further), or just a simple down trend?

[Phaedrus]

Is this (A) a descending triangle in the making, (B) a symetrical triangle (if you go back a little bit further), or (C) just a simple down trend?

(A) Maybe.
(B) No.
(C) Probably.

For you, WB, I risk prosecution for breaching copyright laws :-

[wbosher]

Thanks for that P. I'm sure that if this came out of one of the books you mention from time to time, the free advertising will outweigh any little copyright breach.

[wbosher]

Wow, that looks nasty. A rebound from the line (if it happens) may be a good entry point?

It looks to me (and I'm happy to be corrected here) that the last day formed a doji. From what I understand this symbolises a tug-of-war between bulls and bears and may signal and end to the current down trend. Not included in this picture is the stochastic which show oversold, and also the intraday bounce from the trend line.

All this indicates to me a possible uptrend coming soon, possibly starting today. Any thoughts?

I don't have the available funds to enter at this stage, just watching to see what happens.