How to identify an Ascending Triangle on chart and what does it mean?
Let’s understand this with current chart of
HAL (dated 21-Aug-2023).
• Ascending Triangle is a bullish formation that generally gets formed during the uptrend and confirms the continuation of uptrend.
• Ascending Triangle pattern indicates the accumulation and gives bullish buy indication before breakout.
•HAL during its uptrend journey created break out from its uptrend channel on 7-Jun-2023.
• However, post that it has gone sideways and started forming an Ascending Triangle.
• Ascending triangle is created when price consolidates in the uptrend direction for some time by facing resistance at same level on the upper side of the triangle. Whereas the bottoms keep increasing.
• Volume starts getting decreasing from the starting point of the triangle.
• At one point, we will get Break Out from triangle with huge volume and uptrend will continue.
Let’s understand this with current chart of
HAL (dated 21-Aug-2023).• Ascending Triangle is a bullish formation that generally gets formed during the uptrend and confirms the continuation of uptrend.
• Ascending Triangle pattern indicates the accumulation and gives bullish buy indication before breakout.
•
HAL during its uptrend journey created break out from its uptrend channel on 7-Jun-2023.• However, post that it has gone sideways and started forming an Ascending Triangle.
• Ascending triangle is created when price consolidates in the uptrend direction for some time by facing resistance at same level on the upper side of the triangle. Whereas the bottoms keep increasing.
• Volume starts getting decreasing from the starting point of the triangle.
• At one point, we will get Break Out from triangle with huge volume and uptrend will continue.
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免责声明
这些信息和出版物并非旨在提供，也不构成TradingView提供或认可的任何形式的财务、投资、交易或其他类型的建议或推荐。请阅读使用条款了解更多信息。