Forex Ascending Triangle. The ascending triangle pattern is a reversal or continuation price chart pattern that resembles the shape of a triangle with a base on the upper side. Up trend : The market must be in an uptrend before the ascending triangle appears.
The ascending triangle pattern in forex is a bullish continuation pattern. It has a flat resistance above and an ascending/rising trend line below. In addition to the two trendlines, there is a specific kind of behavior that the candlesticks must perform.
The upper trendline and the lower trendline must be touched at least twice.
The ascending triangle is a consolidation pattern within the longer-term uptrend, and.
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Price contracts with level swing highs (short-term resistance) and higher swing lows (rising trendline) towards a single. Further Reading on Forex Trading Patterns. A descending trend line is bound by two trend lines connecting a downward slope trend line and flat trend line connecting the swing low.