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2018issue C1028-29

Aligning daily, weekly, and monthly triangles with trendlines and Fibonacci retracements

Daily, weekly, and monthly directional triangles can share one daily chart so higher-interval trend changes stay visible. Editorial reading: treat that layout as a multi-interval test bench in which parent triangles state the channel, a matching lower-interval triangle times the pullback, and trendlines plus Fibonacci retracements mark only where the continuation hypothesis would fail.

  • Daily, weekly, and monthly directional triangles can be plotted together on one daily chart, so higher-interval trend changes are visible without opening a separate chart for each interval.
  • Stock, forex, and mutual-fund sequences used monthly triangles for longer-term direction and weekly triangles for candidate entries. Futures sequences used weekly triangles for longer-term direction and daily triangles for shorter-term entries.
  • Short-horizon stock setups on a daily chart were accepted only when they matched the longer-term triangle direction. Trendline and Fibonacci retracement tools in the same workspace were available to judge entries and exits around that read.
  • Each triangle encoded direction, with date and price on inspection and a corner summary of monthly, weekly, and daily colors, prices, and an overall trend score. Symbols were also scored from +100 to -100 and scanned across 24 trend-level groups.
Entries in this reading3 entries
Current trackTriangle pattern55 readingsFibonacci retracement97 readingsTrendline128 readings

One daily chart as a multi-interval test bench

Daily, weekly, and monthly directional triangles can be plotted together on one daily chart so higher-interval trend changes are visible without opening a separate chart for each interval.

Editorial reading: treat that daily chart as a multi-interval test bench. Stacked monthly and weekly triangles state the parent channel. A matching lower-interval triangle times the pullback. Trendlines and Fibonacci retracements mark only where that continuation hypothesis would fail.

How triangle overlays recorded direction

A triangle overlay is a red or green directional mark on OHLC price that records a hypothesized trend change on a chosen interval. Each triangle encoded direction. Inspecting a mark showed the date and price of that event. A chart-corner summary listed the current monthly, weekly, and daily triangle colors, those prices, and an overall trend score.

Those triangle overlays could be added on most chart intervals from daily through quarterly, but they were not available on intraday charts.

Parent triangles and matching entries

The illustrated daily chart of Toronto-listed CNR carried monthly and weekly triangles while price appeared to be approaching a retest of the January 2018 highs. The illustrated short-horizon stock workflow combined weekly and daily triangles on a daily chart and accepted only setups that matched the longer-term triangle direction.

A higher-interval triangle is the monthly or weekly directional mark treated as the parent trend. Lower-interval setups are not allowed to contradict it. The documented stock, forex, and mutual-fund sequence used monthly triangles for the longer-term direction and weekly triangles for candidate entries. The documented futures sequence used weekly triangles for the longer-term direction and daily triangles for shorter-term entries.

Trendlines and Fibonacci retracements as failure marks

The same charting workspace included trendline and Fibonacci retracement tools, plus candlestick, bar, or line display, for judging entries and exits around the triangle read.

A trendline is a drawn line on swing highs or lows used to test whether price is still traveling inside the channel implied by the triangle read. A Fibonacci retracement is a measured pullback grid on a prior swing, used to locate where a triangle-aligned continuation would be invalidated.

Editorial reading: keep those two tools as failure marks, not as a second directional call. If price leaves the channel implied by the triangle read, or if a pullback exceeds the Fibonacci retracement used as the invalidation grid, the continuation hypothesis is treated as failed.

Trend-strength scores and scan groups

Symbols were scored from +100 to -100 for trend strength and direction and could be scanned across 24 trend-level groups to surface early trends or pullbacks inside an existing trend. The trend-strength score is a signed ranking that grades how one-sided recent price movement has been.

MarketClub Smart Scan groups by listed symbol count

Long Term Up +90 is the fattest bucket on the board at 1900 names, while Trading Range 50 holds only 45. The counts are the parenthetical totals printed on each Smart Scan chip, not a redigitized curve; a trader using the scan as a higher-interval filter should treat the +90 long-term-up group as the parent channel and then look inside it for a matching lower-interval triangle.
Long Term Up +90 is the fattest bucket on the board at 1900 names, while Trading Range 50 holds only 45. The counts are the parenthetical totals printed on each Smart Scan chip, not a redigitized curve; a trader using the scan as a higher-interval filter should treat the +90 long-term-up group as the parent channel and then look inside it for a matching lower-interval triangle.MarketClub Smart Scan (equities and other listed symbols) · Scan snapshot as printed in the October 2018 review

The page highlights Long Term Up +90 and then applies Equity, price above $20, and volume above 500,000, which is why only nine charts are listed even though that bucket shows 1900 names. Several chips read exactly 1000, which may be a display cap rather than the full database count. Short Term Down is labeled +85 on the source chip, matching the printed text.

Educational research material, not investment advice. Historical source context does not establish present-day performance.
33 of 33 in the Triangle pattern track
1988Track finished · Next track: Volume confirmationConstructing volume-confirmation overlays on OHLC spreadsheet charts80 readings
All readings on this track · 33 readings
  1. 1986Gold as a double zigzag before a contracting B-wave triangle
  2. 1990Scoring competing wave counts after a crash
  3. 1992Pre-trade checklist for trendline and triangle signals
  4. 1995Chart patterns as tactics, not strategy
  5. 1996Constructing Elliott wave counts with triangles and Fibonacci
  6. 1996A price-channel case study with a pending triangle signal and a planned stop-loss
  7. 1996Expanding triangle as a dual-label fourth-wave reversal worksheet
  8. 1997Rising wedge construction, breakout, and volume
  9. 1997Confirm structure and conditions before naming a Triangle pattern
  10. 1999Drawing the Triangle pattern before Breakout confirmation and the Stop-loss order
  11. 2000Four-phase market cycle triangle breakouts
  12. 2000Continuation triangles as a three-lock experiment
  13. 2001Folding rule: stacking three trendlines on an accelerating swing
  14. 2003A scored symmetrical triangle on a utility stock
  15. 2003Constructing wedges versus flat-boundary triangles
  16. 2004Testing triangle breakouts against volume filters
  17. 2004Mute triangles, histogram force, and trader optimization
  18. 2004Constructing falsifiable reversal and continuation patterns
  19. 2004Construct a corrective rising wedge before treating it as a short
  20. 2004A continuation triangle with Fibonacci targets and an apex stop
  21. 2005Pre-breakout filters for classic chart patterns
  22. 2005Reverse trendlines as a geometry lab for convergence and expanding triangles
  23. 2005Volume shapes versus triangle and double-pattern breakouts
  24. 2005A nested-pattern checklist on the 2005 euro
  25. 2005Volume test for a descending triangle breakout
  26. 2010Constructing triangle, broadening, and head and shoulders patterns
  27. 2011Treat a numeric pattern rank as a shortlist
  28. 2011Evaluating the head-and-shoulders as a falsifiable reversal
  29. 2013Auditing chart patterns by the first post-breakout swing
  30. 2014A three-gate entry for a triangle pullback
  31. 2014Golden triangle: a 50-day pause that still needs both gates
  32. 2014The triangle qualifier came after the rating pre-screen and the fifty-day bounce
  33. 2018Aligning daily, weekly, and monthly triangles with trendlines and Fibonacci retracements
By fieldTrend and channels181 readingsBy year201898 readings
All 55 readings tagged Triangle pattern
Also on Triangle pattern5 readings
1986Gold as a double zigzag before a contracting B-wave triangle1990Scoring competing wave counts after a crash1996Constructing Elliott wave counts with triangles and Fibonacci2004A continuation triangle with Fibonacci targets and an apex stop2004Construct a corrective rising wedge before treating it as a short