ASCENDING TRIANGLE PATTERN
(CLICK ON IMAGE FOR CANDLE-STICK CHART VIEW)
It is formed as a right -angles triangle with resistance trendline of higher lows, resistance does not allow the chart to move more upward, higher lows show that the buying pressure has increased. pattern clearly indicates that the market moves higher as the higher lows are formed heading towards the resistance line. it can break from any direction.
(ASCENDING TRIANGLE WITH CANDLESTICK CHART VIEW👇👇)
Note : It's important to note that the ASCENDING TRIANGLE pattern is just one of many chart patterns used in technical analysis, and traders should always use multiple indicators and techniques to confirm their analysis before making trading decisions
Disclaimer: This analysis is purely for educational purpose and does not contain any recommendation. Please consult your financial advisor before taking any financial decision.
(CLICK ON IMAGE FOR CANDLESTICK CHART VIEW)
It is formed by drawing a horizontal line connecting a series of lower highs and a downward sloping trendline connecting a series of equal or nearly equal lows. This creates a triangular shape with a flat base and a downward-sloping upper trendline. It indicates a bearish continuation pattern, suggesting that the price is likely to break below the horizontal support level and continue its downward trend. Traders often look for this pattern as a potential signal to enter short (sell) positions or to add to existing short positions. The breakout from the descending triangle pattern can occur in either direction, although it is more commonly associated with a downside breakout.
(DESCENDING TRIANGLE WITH CANDLESTICK CHART VIEW👇👇)
(CLICK ON ABOVE IMAGE FOR CLEAR CHART VIEW)
Note : It's important to note that the DESCENDING TRIANGLE pattern is just one of many chart patterns used in technical analysis, and traders should always use multiple indicators and techniques to confirm their analysis before making trading decisions
Disclaimer: This analysis is purely for educational purpose and does not contain any recommendation. Please consult your financial advisor before taking any financial decision.
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