What Does Ascending Triangle Chart Pattern Mean?

Rising Wedge Trading 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.

Ascending Triangle chart pattern highlights that there's a resistance zone that the buyers keep pushing every time moving the resistance zone higher, & once it breaks-out price will continue to move in an upwards trend.

An up-side penetration of the upper ascending pattern line is a technical buy signal for a market breaking out from an ascending triangle chart pattern.

What Happens to Price Action After Rising Wedge Pattern?

The gold market formed an ascending triangle pattern during its upwards gold trend which led to upside continuation as shown on the example above.

The buy signal is when price breaks out above the upper ascending triangle pattern line and the market continues moving upwards - up-ward gold market trend continuation.