An Ascending Continuation Triangle is a bullish pattern signal. It indicates a continuation of the current uptrend. An Ascending Continuation Triangle is shaped by two converging trendlines. The lower trendline is rising and the upper trendline is horizontal. This pattern occurs because the lows are moving increasingly higher. The pattern will have two highs and two lows and it is confirmed when the price breaks out of the triangle formation to close above the upper trendline. Better investor don’t take a position, until the pattern will have finished, cause usually this pattern occurs at consolidation condition.
How to trade this pattern?
Buy the currency pair when price breaks out of the ascending triangle formation to the upside and closes above the upper resistance trend line.
0 comments:
Post a Comment