Ascending Triangle

Ascending Triangle is a chart pattern based on trend continuation patterns. Continuation patterns are considered a powerful trading tool used by technical analysts as they usually result in extremely low-risk trading opportunities and spectacular returns. Continuation patterns also include symmetrical triangles, descending triangles, wedges, flags, rectangles, and pennants and are essentially technical patterns that give highly probable trend continuation. Ascending triangle patterns are most reliable in a bull rally. It indicates a strong bullish sentiment that gives a high probability of bull trend continuation. The top part of the ascending triangle is where the main resistance is and it’s about to get broken by the bull traders. That is where a buy order should be placed. If it fails to break above, it is advisable to sell the market when it goes below the ascending triangle pattern.