What is ascending triangle pattern?

The ascending triangle pattern is a bullish continuation pattern commonly used in technical analysis. It is formed when there is a strong upward trend in the price of an asset, but the price encounters resistance at a specific level, creating a horizontal line of resistance. What is the Ascending Triangle Pattern?

Are ascending triangles bullish?

Yes, the ascending triangle is a bullish chart pattern that develops during an uptrend and signals an upside breakout. The bullishness of this pattern comes from the squeeze between the ascending trendline and horizontal resistance line which ultimately will force the break out of the pattern. Are ascending triangles good?

What is a bearish symmetrical triangle?

A bearish symmetrical triangle is bearish continuation chart pattern. The pattern is formed by two converging trend lines that are symmetrical in relation to the horizontal line. The first line is a bearish trend line creating the resistance, also called the "resistance line of the bearish symmetrical triangle".

What is a triangle chart pattern?

The triangle chart pattern is generally considered a bullish pattern. Note*: the reverse of an ascending triangle is the descending triangle also known as the bearish triangle. The first element of this price pattern is an upward-sloping trendline followed by a flat top.