Acending triangle pattern
I'm posting these again because there are so many new traders here 🤙
Take it with a grain of salt. If it works for you, great! Just remember, five different people can look at that chart and see five different things 😂
Take it with a grain of salt. If it works for you, great! Just remember, five different people can look at that chart and see five different things 😂
The Ascending Triangle
January 30, 2021
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:
Price action allows for a horizontal trend line to be drawn attaching at LEAST two highs.
A trend line can be drawn along at LEAST two lows
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.
Trading with the Ascending Triangle
Most traders use an upside breakout of an ascending triangle as a signal to go long and a downside breakout as the signal to short.
A stop-loss can be set just under the trend line after a breakout if going long and just above the bottom trendline if short.
Target price can be established by adding(or subtracting if short) the max height of the triangle to the breakout.
The angle of the triangle is critical. The steeper the angle the more abrupt the breakout can occur.
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Virginia Beach, Virginia
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Okwute419 : 您是否有不和諧或貿易聊天室 @TheStockScalpers ?
23408712 :![[弱]](https://static.moomoo.com/nnq/emoji/static/image/default/default-black.png?imageMogr2/thumbnail/36x36 "弱")
ScairdyKitty : 我已經持有這個股票，因為它是 2.44，我不喜歡這次崩潰... 這只是一種努力，讓更多的人買進來，因為它有望通過他們計劃的所有新的偉大的東西來增長更多？如果是這樣的話，酷... 越多越好... 但不喜歡看我的收入只是洗了下水...
無論我讀了多少本書或觀看的播客，還是運行計算... 我永遠不知道何時出售...
我害怕現在賣掉... 因為... 也許我們現在在底部！我討厭這個東西，這就是為什麼我購買並持有 loooooooong 的時間。短期購買只會傷害我的胃！
所以.. 我只是繼續持有？