From Western technical analysis, the ascending triangle charts pattern was created.
A chart showing an ascending triangle pattern warns traders about an impending breakout of an upward impulse.
The pattern is characterized by “squeezing” the price from below. That is, the highs remain at the same level while the lows increase, “pressing” the price to the upper border. After that, the counter resistance is broken and there is an upward impulse breakout. Momentum signals confidence to market participants. It indicates a continuation of an upward trend line or a bearish reversal.
The ascending triangle pattern has a… Read full author’s opinion and review in blog of #LiteFinance
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