Ascending Triangle Pattern
The ascending triangle is typically a bullish continuation pattern characterized by a flat upper resistance line and an upward-sloping support line. It shows buyers becoming more aggressive while sellers hold a fixed resistance level.
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Download ChartedKey Characteristics
Trading Tips
- ✓Enter on breakout above resistance with volume
- ✓Stop-loss below the last swing low
- ✓Target is pattern height added to breakout point
- ✓Watch for false breakouts - wait for confirmation
Signal Strength & Reliability
Ascending triangles break upward approximately 70% of the time. The pattern is more reliable when it appears during an uptrend as a continuation pattern. Downward breaks do occur and can be traded in the opposite direction.
Ascending Triangle FAQs
Common questions about the ascending triangle pattern
While ascending triangles typically break upward (70% of cases), they can break in either direction. Always wait for the actual breakout before trading. The pattern is more reliable as a bullish continuation in an existing uptrend.
Ideally, you want at least two touches on the flat resistance line and two on the rising support line. More touches generally make the pattern more reliable, as they confirm that these levels are significant.
If an ascending triangle breaks downward, it's a bearish signal. You would trade it as a short, with the target being the pattern height subtracted from the breakdown point. Always adjust your bias based on actual price action.
Related Patterns
All Chart Patterns
Disclaimer: Charted provides technical analysis for educational purposes only. This is not financial advice. All trading involves risk. Always consult a licensed financial professional before making investment decisions.
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