Ascending Triangle Pattern

What the Ascending Triangle pattern means

Buyers keep stepping in at higher prices while sellers defend one fixed level. The higher lows show demand strengthening into a ceiling that is not getting any lower. When buyers finally absorb that resistance, price tends to break out upward.

How the Ascending Triangle is traded

• →Enter on a close above the flat resistance, or on a retest of it as new support.
• →The target is roughly the height of the triangle projected up from the breakout.
• →Stop goes below the most recent higher low.
• →Breakouts on rising volume are more trustworthy than quiet ones.

Common mistakes

• ✕Buying inside the triangle before resistance breaks.
• ✕Chasing a breakout far above resistance and ruining the risk to reward.