#8 of 10 Chart Patterns Every Trader Needs to Know - Ascending Triangle
The ascending triangle is a bullish pattern that signifies the continuation of an uptrend.
Drawing an ascending triangle starts by placing a horizontal line along the swing highs creating an area of high liquidity (resistance) and then drawing an ascending line along the swing lows.
Ascending Triangle Pattern
Ascending triangles typically have two or more even swing highs which allow a clear line of buy-side liquidity just sitting above the resistance line. The continued higher lows signify the overall uptrend in the market, while the even highs indicate a major level of resistance that big money will ultimately push through to obtain.
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