Analyzing Ascending Triangle Chart Patterns

In Continuation with Last week article of Trading Stocks with Symmetrical Triangle’s Chart Pattern lets discuss another  triangle pattern

• Ascending Triangle Pattern

Ascending Triangle: This pattern comprises of 2 trendline, one drawn horizontally to mark the resistance, second trendline connects increasing slope of higher low. It is generally a continuation pattern formed during consolidation after an uptrend. Volumes generally diminishes during the formation of the pattern
Ascending Triangle chart pattern should contain at least 2 similar highs not exactly equal but in proximity to form the upper horizontal trendline. To form the lower ascending trendline at least two higher lows are required. We would set an entry order above the resistance line and Sell order below the slope of the higher lows.
Note: If a more recent ...

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