The ascending triangle is a bullish formation that usually forms during an uptrend as a continuation pattern. An ascending triangle demonstrated within a chart pattern is recognized as having a bullish position and occurs as a result of price highs and price lows that have begun to converge so that they, in effect, form a point. The vertical line of the triangle is projected above the resistance line (triangle horizontal line) and the top of this line will be the estimated profit target.
The ascending triangle is a bullish formation that usually forms during an uptrend as a continuation pattern. An ascending triangle demonstrated within a chart pattern is recognized as having a bullish position and occurs as a result of price highs and price lows that have begun to converge so that they, in effect, form a point. The vertical line of the triangle is projected above the resistance line (triangle horizontal line) and the top of this line will be the estimated profit target.