How Do You Trade Rising Triangle 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 price 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 shows that there's a resistance area that the buyers(bulls) keep pushing every time moving the resistance area higher, & once it breaks--out, the market will continue moving in an upward trend.
The overhead resistance temporarily stops the price from advancing higher, while the ascending trendline beneath the rising wedge chart pattern setup formation 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/develops as a consolidation period within the upwards trend & reflects up-side trend continuation will follow.
Trade Rising Triangle Pattern?
The market formed an ascending triangle pattern during its upward trend which led to upside continuation just as is shown on the illustration above. The buy signal is when price clears the upper sloping ascending triangle pattern line and the market continues moving up - upwards trend continuation.
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