How Do You Trade Rising Triangle Chart Pattern?
How Do I Trade the Rising Triangle Pattern
Rising Wedge Pattern
The ascending triangle chart pattern in gold trading is formed in a upwards trend & it shows that upwards direction of the market is going to continue - the ascending triangle is a continuation chart pattern.
The ascending triangle pattern also is referred to as a rising wedge pattern.
Rising Triangle pattern highlights that there's a resistance area that the buyers keep pushing every time moving the resistance area higher, & once it breaks-out price will continue heading in an upwards trend.
The overhead resistance temporarily stops the price from advancing higher, while the ascending trendline beneath the rising wedge chart pattern setup signals that bulls are still present.
An up-side penetration of upper ascending pattern line is a technical buy signal for a market breaking out from an ascending triangle chart pattern.
Rising Triangle pattern is found within a Trading upward trend, the ascending triangle pattern forms as a consolidation period within the upwards trend & indicates upside trend continuation will follow.
Trade Rising Triangle Pattern?
The market formed an ascending triangle pattern during its upward trend which led to upside continuation as shown on the example above. The buy signal is when price clears the upper sloping ascending triangle pattern line and the market continues moving up-wards - upward trend continuation.
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