Ascending triangles

The Stock Scalpers wrote a column · Jun 5, 2021 06:35

Stock Scalpers LLC.

The Ascending Triangle

June 25, 2020

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What is an Ascending Triangle formation?

Like many of the patterns we have explored, the ascending triangle is often regarded as a continuation pattern. The formation shows a period of consolidation before a breakout.

This pattern is created when the following occur:

Traders watch for breakouts along the upside of the ascending triangle because the breakout generally occurs in the direction of the trend.

What is an Ascending Triangle actually telling us?

The buyers are still in control. The price continues to return to the previous high. More important is the continuation of the higher lows. This shows seller enthusiasm waning and buyers regaining the upper hand.