What is an ascending triangle pattern and how to trade it?
As the name indicates, an ascending triangle on a chart forms when the price consolidates between a rising trendline support and a horizontal trendline resistance.
The pattern typically appears during persistent uptrends or downtrends. Most technical analysts see it as a “continuation pattern,” meaning the general market trend is likely to resume.
Traders can use a measuring technique to identify profit targets after an ascending triangle pattern breakout or breakdown.
Read the full story to improve your trading routine using triangle pattern.
