Triangle Chart Pattern (2)

Ascending Triangle

The price rising lows are higher than recent one, and falling highs reach similar price levels, that shaped a Ascending Triangle. When the price moves at the end of the this pattern, it will breakout and rise up with high probability.

How to trade in a Ascending Triangle?

Draw a trendline along the similar swing highs and a trendline of the rising swing lows of the Ascending Triangle.

We can Buy when the price breakouts above the upper trendline, and place a loss stop at the recent swing low.

The profit target is the height of the Ascending Triangle Pattern. We can subtract the first falling low price from the first rising high price. This gives us the height of the pattern, also the profit space.

More Triangle Chart Patterns see"Triangle Chart Patterns (1)" & "Triangle Chart Patterns(3)" in master skills.