What is an Ascending Triangle?
Ascending Triangle Definition:
In Technical Analysis, an ascending triangle is a chart pattern where the horizontal resistance that connects the price’s highs is met by an upward sloping line that connects the lows. Here, the buyers are considered the more aggressive ones against the sellers as they continually push the price higher. Hence, an ascending triangle is generally considered as a bullish continuation pattern. However, once in a awhile a downside rather than an upside breakout occurs. Either way, the price tends to reach a target which is about the length of the base (height) of the triangle projected from the point of breakout.