The ascending triangle, often referred to as the ‘rising triangle’, is one of the top continuation patterns that appears mid-trend. Traders anticipate the market to continue in the direction of the larger trend and develop trading setups accordingly. What is an Ascending Triangle?
How to spot ascending triangle on Forex charts?
The ascending triangle is fairly easy to spot on forex charts once traders know what to look for. Uptrend: The market must be in an uptrend before the ascending triangle appears. This is important and emphasises that traders should not simply trade the pattern whenever the ascending triangle appears.
What is the ascending triangle chart pattern?
The ascending triangle is a bullish chart pattern formed during an uptrend and signals the continuation of the existing trend. This triangle chart pattern is fairly easy to recognize and assists traders to find entry and exit levels during an ongoing trend.
Are ascending triangle patterns bullish?
Ascending triangle patterns are great bullish patterns. The build-up and the breakout can be so obvious once you learn to spot it. With experience and practice, you can spot these breakouts from a mile away. It’s difficult to build a screener to find intraday ascending triangle patterns.
