Ascending triangle - Breakout's eve
Updated
Twas the eve(a few days) before Breakout after vigorous lows and highs over the course of a few weeks, clear patterns has emerged most notable is the formation of the ascending triangle.
The ascending triangle is a bullish pattern, which gives an indication that the price of the security is headed higher upon completion. The pattern is formed by two trendlines: a flat trendline being a point of resistance and an ascending trendline acting as a price support. We see the challenges at the line as we continue to closely track this forecast.
The ascending triangle is a bullish pattern, which gives an indication that the price of the security is headed higher upon completion. The pattern is formed by two trendlines: a flat trendline being a point of resistance and an ascending trendline acting as a price support. We see the challenges at the line as we continue to closely track this forecast.
Trade closed: stop reached
Harsh intro into chart reading...
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