DDOG has broken up from a S triangle and returned back to a tad below break out level, used it as a springboard and closed above long entry level. There is a level of support at bottom of the candle tail.
Symmetrical triangles are often a slow down time for price and price consolidates inside. The pattern consists of 2 trendlines that slope in opposite directions and converge at the endpoints. The pattern needs 5 touches minimum, 2 to one trendline and 3 to the other and can enter the triangle from any direction. Volume usually levels off or decreases while price is inside, but a break out of the trendlines with heavy volume performs the best. I do not see super heavy volume when DDOG broke the triangle. The heavier volume days were when DDOG hit the bottom trendline of the triangle..
A S Triangle can break up or down and is considered a neutral pattern until break out occurs.
Not a recommendation
Symmetrical triangles are often a slow down time for price and price consolidates inside. The pattern consists of 2 trendlines that slope in opposite directions and converge at the endpoints. The pattern needs 5 touches minimum, 2 to one trendline and 3 to the other and can enter the triangle from any direction. Volume usually levels off or decreases while price is inside, but a break out of the trendlines with heavy volume performs the best. I do not see super heavy volume when DDOG broke the triangle. The heavier volume days were when DDOG hit the bottom trendline of the triangle..
A S Triangle can break up or down and is considered a neutral pattern until break out occurs.
Not a recommendation
Uwaga
I guess it as just a "let's dump Data Dog day" Happens sometimes and often there is no rhyme nor reason to what the market decides to do. Earnings are 5/11
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