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Trading and Investment Terms

Ascending Triangle

The ascending triangle formation is a continuation pattern and as the name suggests it has the shape of a triangle. 

 

It is also known as a bullish triangle because it leads to a bullish breakout. 

 

The triangle chart pattern is generally considered a bullish pattern

 

The ascending triangle is a continuation pattern defined by an entry point, stop loss and profit target. 

On the price chart, it appears as a horizontal support line connecting the highs to an upward moving trendline to the lows. Each ascending triangle has a minimum of two highs and two lows. 

Let's examine each part of the pattern.

  1. Trend
  2. Top Horizontal Line
  3. Lower Ascending Trend Line
  4. Duration
  5. Volume
  6. Return to Breakout
  7. Target

Summary

  • An ascending triangle pattern is a signal of weakening resistance and a potential upwards move. This presents you with a possible buying opportunity.
  • You can enter after the resistance level has been broken, either on a breakout or a retest of the upper line.
  • You can place the stop loss just below the lower, sloping level.
  • The take profit level is determined by measuring the distance of the back of the triangle and extending that distance upwards from the entry point.

 

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