What is ascending triangle breakout strategy?

The ascending triangle breakout strategy is an extremely powerful chart setup that exploits many of the supply and demand imbalances in the market. Using price action in conjunction with it will complete the trading strategy. Identifying the setup and recognizing the opportunity before others is a perfect head start.

What is a breakout level in an ascending triangle pattern?

The breakout level in an ascending triangle pattern plays a vital role in confirming the trend direction and identifying potential trading opportunities. Within an ascending triangle, the breakout level is typically represented by the horizontal resistance line that intersects with a rising support line.

Is ascending triangle a continuation pattern?

The ascending triangle formation is a continuation pattern and as the name suggests it has the shape of a triangle. The ascending triangle is also known as the bullish triangle because it leads to a bullish breakout. The triangle chart pattern is generally considered a bullish pattern.