What is the ascending triangle pattern?

The ascending triangle, often referred to as the ‘rising triangle’, is one of the top continuation patterns that appears mid-trend. Traders anticipate the market to continue in the direction of the larger trend and develop trading setups accordingly. Learn to Trade the Ascending Triangle Pattern: Main Talking Points

What is ascending pattern?

It is one of the most commonly used charting patterns and occurs frequently on price charts. Being the opposite version of the descending triangle, the ascending pattern is characterized by a flat upper trendline that is used as a resistance level and rising lows trendline.

How do ascending triangle patterns form a reversal pattern?

The rising bottom is formed using trend lines connecting at least two to three higher lows. Ascending triangle patterns are bullish formations that form during an uptrend as a continuation of the trend. There are some instances where an ascending triangle pattern could form a reversal pattern, but these are typically continuation patterns.