📈 What is an ascending triangle pattern and how to trade it? 📍As the name indicates, an ascending triangle on a chart…

📈 What is an ascending triangle pattern and how to trade it?

📍As the name indicates, an ascending triangle on a chart forms when the price consolidates between a rising trendline support and a horizontal trendline resistance.

📍The pattern typically appears during persistent uptrends or downtrends. Most technical analysts see it as a “continuation pattern,” meaning the general market trend is likely to resume.

📍Traders can use a measuring technique to identify profit targets after an ascending triangle pattern breakout or breakdown.

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