#2 Ascending Triangle
The 2nd most bullish pattern is the Ascending Triangle.
The Ascending Triangle is formed after an initial trend higher and is typically a consolidation before price continues higher.
The price oscillation during consolidation consists of at least 2 swing highs and 2 swing lows.
Eventually price meets at the top of the triangle and a breakout occurs.
It’s common for ascending triangles to have one or more false breakouts before a final price direction is achieved.
Price target is determined from taking the height of the thickest end triangle.
Interested in more bullish patterns? See #1 Double Bottom.
The 2nd most bullish pattern is the Ascending Triangle.
The Ascending Triangle is formed after an initial trend higher and is typically a consolidation before price continues higher.
The price oscillation during consolidation consists of at least 2 swing highs and 2 swing lows.
Eventually price meets at the top of the triangle and a breakout occurs.
It’s common for ascending triangles to have one or more false breakouts before a final price direction is achieved.
Price target is determined from taking the height of the thickest end triangle.
Interested in more bullish patterns? See #1 Double Bottom.
