You may have learnt that a triangle pattern in an uptrend is bullish? Here's a good example of wait and see, where the price has broken to the downside. Looks bearish to me.
Buy above high of breakout candle at 811.25 stoploss at 790.5
The technical figure Triangle can be found in the daily chart in the UK company Diageo plc (DGE.l). Diageo plc is a British multinational alcoholic beverage company. It is a major distributor of Scotch whisky and other spirits. Distilleries owned by Diageo, produce 40% of all Scotch whisky with over 24 brands, such as Johnnie Walker, J&B and Vat 69. Its leading...
Buy @ 801-816 Break out after consolidation of 6 years Cmp 827.70 Pe 88.4x Roce 13.3% Roe 9.49% Mcap 60144 cr. Enterprise value 61097 cr. Reserves 4094 cr Products:- johnnie walker, black dog, black & white, vat 69, antiquity, signature, royal challenge, mcdowell’s no.1, smirnoff and captain morgan.
Buy the stock in the zone of 520-10 keeping a stop loss of 495 for a targets range of 550/580. Holding above 580 it will reach to the target area of 610.