Ascending Triangle chart pattern | Forex Beginning - Forex for beginners

Ascending Triangle

Ascending Triangle pattern

Ascending triangles are similar to the symmetrical ones, with the difference that there is no lower highs, but a constant line of resistance that is regularly attacked by the bulls and not yet broken. Of course, similarly to the symmetrical triangles, the bottom part of the ascending triangle has an upward slant. The fact that the triangle is ascending, that is, going up, doesn’t necessarily mean that the breakout will be on the upside. It could be either way. In any case, it’s a good idea to place your entry orders above the higher lows and above the resistance line.