The Ascending Triangle
The ascending triangle is formed when the market makes higher lows and the same level highs. These patterns are normally seen in an uptrend and viewed as a continuation pattern as buying demand gain more and more control, running up to the top resistance line of the pattern. While you normally will see this pattern form in an uptrend, if you do see it in a downtrend it should be paid attention to as it can act as a powerful reversal signal.
The chart below offers an example of an ascending triangle.
Read more about this topic: Triangle (chart Pattern)
Famous quotes containing the word ascending:
“It is the most enduring quality, and the most ascending quality.”
—Ralph Waldo Emerson (1803–1882)