Basic of Triangle chart pattern
There are three Triangle chart pattern :-
1. Symmetry triangle pattern
2. Ascending triangle pattern
3. Descending triangle pattern
What is ascending triangle chart pattern?
An ascending triangle is a type of triangle chart pattern that occurs when there is a resistance level and a slope of higher lows.
What happens during ascending triangle pattern form?
An ascending triangle is a type of triangle chart pattern that occurs when there is a resistance level and a slope of higher lows.
What happens during this time is that there is a
certain level that the buyers cannot seem to exceed.
However, they are gradually starting to push the price up as evidenced by the higher lows.
How to trade with ascending triangle pattern?
Most of the time, the price will in fact, go up. The point we are trying to make is that you should not be obsessed with which direction the price goes, but you should be ready for movement in EITHER direction.
What is descending triangle chart pattern ?
A descending triangle is a type of triangle chart pattern that occurs when there is a resistance level and a slope of lower high
What happens when descending triangle pattern form ?
As you probably guessed, descending triangles are the exact opposite of ascending triangles. In descending triangle chart patterns, there is a string of lower highs that forms the upper line.
How to trade with descending triangle pattern?
The lower line is a support level in which the price cannot seem to break.
In the chart above, you can see that the price is gradually making lower highs. This tells us that the sellers are starting to gain some ground against the buyers.
