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.