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Ascending

BNB Ascending Channel (1W)BINANCE:BNBUSDT remains within an ascending channel dating back to January 2024, with multiple strong reactions at both boundaries. After testing the upper boundary and hitting a new ATH last December, it entered a clear downtrend (orange trendline) that led to multiple attempts at the channel's support. Price action is now getting compressed, and we could see a breakout soon. Key Levels • To the upside, the main resistance remains ~$700 area. • Above that, CRYPTOCAP:BNB could have a shot at a new ATH and potentially the channel's upper boundary in the ~$900 area. • To the downside, in case of a channel breakdown, $400 seems the first logical support (important S/R for previous swings). Still very uncertain and in a No-Trade Zone until a breakout is confirmed.
by AliferCrypto
How Can You Use the Ascending Triangle in Trading?How Can You Use the Ascending Triangle in Trading? An ascending triangle is a chart pattern traders rely on to identify potential breakouts and further price movements. Recognised for its versatility, this pattern can signal trend continuations across all types of markets, including stocks, forex, commodities, and cryptocurrencies*. In this article, we’ll break down how to spot and trade this formation. What Is an Ascending Triangle? An ascending or rising triangle is a bullish chart pattern that usually signals a trend continuation. It is framed by two trendlines. The upper line connects highs placed at almost the same level, while the lower line is angled and connects higher lows. The triangle’s appearance is explained as follows: buyers try to push the price up, but they meet a strong resistance level, so the price rebounds. Still, buyers have strength, which is reflected in higher lows. Therefore, they continue pushing the price until it breaks above the resistance level. The period during which the price bounces back and forth between the two lines depends on the timeframe. On daily charts, the triangle can be in place for over a week. Note: The ascending triangle is a continuation chart pattern but sometimes it can be used as a reversal signal. It happens when the ascending triangle occurs in a downtrend. It’s the biggest challenge of all the triangles. The rising triangle is one of the setups in the triangle group. There are also descending and symmetrical formations. Ascending, Descending, and Symmetrical Triangles: The Differences The triangle group of patterns comprises ascending, descending, and symmetrical formations. The ascending triangle is a bullish formation and the descending triangle is bearish. At the same time, the symmetrical triangle is a bilateral setup that signals a rise and a fall in the price. To distinguish between them, traders draw trendlines. In a rising triangle pattern, an upper trendline is horizontal and connects equal or almost equal highs, while the lower trendline is rising as it connects higher lows. In a descending or falling triangle pattern, the lower trendline is horizontal and connects equal or almost equal lows, while the upper trendline declines, going through lower highs. A symmetrical triangle has a falling upper line that connects lower highs and a rising lower line that connects upper lows. How Traders Spot the Ascending Triangle It’s quite easy to identify the formation on a chart. Still, there are a few rules that may help a trader determine its strength. - The trend strength. Although the setup may appear on any timeframe, traders look for strong long-term trends as risks of a fakeout on low charts are higher. - Consolidation. Triangles appear when the market consolidates within an overall trend. - Trendlines. Trendlines must be drawn through at least two points. Still, the larger the number of points, the higher the possibility the setup works. - Breakout. Can the ascending triangle pattern be bearish? No. It is a bullish formation that appears in a bullish and a bearish trend but always signals a potential price rise. How Can You Trade Ascending Triangles? The rising triangle pattern is usually considered a continuation setup formed in an uptrend. Still, if the ascending triangle is in a downtrend, it may signal a trend reversal. The trading rules will be the same in both cases. As with most chart patterns, triangles have specific rules that help traders place entry and exit points. Entry The theory suggests trades go long when the price breaks above the setup's upper boundary. In a conservative approach, traders wait for the price to form at least several candles before entering the market. In a risky strategy, traders open a position as soon as the breakout occurs, and the breakout candlestick closes. It's worth considering trading volumes as breakouts often turn into fakeouts, meaning the market returns to its previous trend. The chance of a strong breakout is higher if the volumes are high. However, increased volumes aren't the only tool used to confirm a breakout. Many traders consider trend indicators and oscillators to potentially limit the risks of bad trading decisions. - If the triangle serves as a continuation setup, it may be helpful to look at the signals of trend-strength indicators, including the average directional index. - If traders use the ascending triangle as a reversal setup, they usually implement indicators that may signal a trend reversal, including the moving average, the relative strength index, the moving average convergence divergence, and the stochastic oscillator. Take Profit A standard take-profit target equals the size of the largest part of the setup and is measured just from the breakout trendline. Stop Loss Traders consider several options when placing stop-loss levels. In a conservative approach, they implement the risk/reward ratio, which is usually 1:2 or 1:3 but depends on the trader's willingness to take risks. Also, traders utilise the upper trendline as a threshold and place the stop-loss order just under it. Note: These are general rules. However, traders can develop their own trading strategies and adjust the pattern's parameters and rules according to their trading approach. Ascending Triangle: Strategy In this strategy, traders observe an existing bullish trend and the formation of an ascending triangle, which suggests the potential for a continuation pattern. Incorporating a short-term moving average, such as a 9-period EMA, provides dynamic support, aligning with the trendline to strengthen the setup. Entries - Traders typically wait for the price to break through the top trendline of the ascending triangle. - A strong candle breaking the resistance level adds confidence, though any move above the top trendline can serve as an entry signal. - The price should also trade above the moving average, offering additional confirmation. - An order is often placed at the top trendline, anticipating a retracement to this level, which now acts as support. Stop Loss - Traders place a stop-loss below the most recent swing low within the triangle. - For more conservative traders, the stop may be set at any prior swing low, depending on risk tolerance. Take Profit - Many traders aim for a risk-reward ratio of 1:2 or 1:3. - Profits might also be taken at the next strong resistance level, aligning with the market structure. Rising Triangle: Benefits and Drawbacks This formation has advantages and pitfalls that traders consider when developing their strategies. Benefits - It can be used on any timeframe. Triangles are formed on charts of any period. Still, they might be more effective if the setup appears in a solid trend on a high timeframe. - It can be used for any asset. Another advantage is that the ascending triangle pattern is used for stock, commodity, cryptocurrency*, and Forex trading. - Easy to spot. A trader only needs to draw two trendlines to define this setup on the chart. - Exact entry and exit points. Although traders can develop their entry and exit points, the setup assumes there are specific rules traders with any experience utilise. Drawbacks - It can confuse traders. As the rising triangle is used as a reversal and continuation formation, traders with less experience may be confused with its signals. - False breakouts. The setup works when a price breakout occurs. However, there is a high risk the breakout will appear to be a fakeout, and the price will return. - The pattern may fail. Aside from a fakeout, there is another risk when trading with triangles. The price may break another side of the formation, and the formation will fail. - The trading rules may not work. Although specific rules indicate where a trader should place entry and exit points, buyers may be too weak to push the price to the take-profit target. Final Thoughts The ascending triangle is one of the more common chart patterns traders use when trading various assets. Still, there is no 100% guarantee that it will work every time you spot it on a price chart. It's vital to remember that every signal must be confirmed with other indicators, chart patterns, and candlesticks. Also, it's a well-known fact that any trade involves risks that should be considered every time a trader enters the market. Improve your skills by practising on different assets and timeframes. FAQ How Do You Form an Ascending Triangle? An ascending triangle is formed when the price action creates a series of higher lows while facing a resistance level, resulting in a horizontal upper trendline and a rising lower trendline. The price consolidates between these two lines before potentially breaking out above the resistance, signalling a bullish continuation. Is an Ascending Triangle Bullish or Bearish? The ascending triangle is a bullish pattern. It suggests that buyers are gaining strength as higher lows form, increasing the likelihood of a breakout above the resistance level. There is a descending triangle pattern that usually appears in a downtrend, signalling a downward movement. How to Enter an Ascending Triangle? According to the theory, in triangle pattern trading, it’s common to enter the market when the price breaks above the upper trendline of the triangle. In a conservative approach, traders wait for confirmation through several closing candles after the breakout. The increased volume also adds confidence to the trade. What Is the Ascending Triangle Pattern Retest? A retest occurs when the price breaks out of the triangle but then briefly falls back to test the former resistance level. A successful retest confirms the breakout and can provide an additional entry point. How Long Does an Ascending Triangle Pattern Take to Form? The formation of a bullish triangle pattern can vary based on the timeframe. On daily charts, it can take several days to weeks, while on shorter timeframes, it might form within hours. What Is the Difference Between an Ascending Triangle and a Rising Wedge? In comparing the ascending triangle vs. the rising wedge, it’s key to recognise that the rising wedge has converging trendlines, signalling a possible weakening trend, often leading to a bearish reversal. In contrast, an ascending triangle trading pattern typically signals a continuation of the uptrend. *At FXOpen UK, Cryptocurrency CFDs are only available for trading by those clients categorised as Professional clients under FCA Rules. They are not available for trading by Retail clients. This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
Education
by FXOpen
1
NAS100 Bull BiasCurrent Market Structure: 1. Trend Analysis: • The price is still within a well-defined ascending channel. • The recent price action shows a pullback toward the channel’s midline after hitting resistance near the upper channel boundary. 2. Key Levels: • Resistance: • 21,400–21,500: Price is near this key zone, which aligns with previous swing highs. A break above this could confirm further bullish momentum. • 21,800: The next significant resistance, where a potential rejection could occur. • Support: • 21,200–21,300: Immediate support zone near the current price. A break below may lead to a retest of the channel’s lower boundary. • 20,766 (blue line): Major support that aligns with previous lows and the base of the channel. Possible Scenarios: 1. Bullish Case: • If price holds above 21,300 and breaks through the 21,500 resistance zone, there’s a strong likelihood of a move toward the next resistance at 21,800 or even the upper boundary of the channel at 22,200. • Buy confirmation: Look for bullish momentum candles or a retest of 21,400–21,500 as new support. 2. Bearish Case: • If the price fails to break 21,500 and falls below 21,300, we may see further downside toward 20,766 (blue line). • A break below 20,766 would invalidate the bullish structure and potentially lead to a deeper pullback toward 20,400–20,321. Indicators to Watch: • Trendline Interaction: The price is near the channel midline. A bounce or rejection here will determine the direction. • Volume: A breakout above resistance zones requires strong volume for confirmation. • Momentum Indicators (e.g., MACD/RSI): Watch for divergences or crossovers that might indicate a shift in momentum. Trading Plan: 1. Long Setup: • Entry: Above 21,500, after a breakout and retest. • Target: 21,800, then 22,200. • Stop Loss: Below 21,300 (midline). 2. Short Setup: • Entry: Below 21,300, after rejection. • Target: 20,766, then 20,400. • Stop Loss: Above 21,500. Conclusion: The market remains in an ascending channel, favoring bullish bias unless 20,766 is broken. Monitor price action at 21,300–21,500 for confirmation of direction.
VANTAGE:NAS100Long
by AutoMarkets
Bullish triangle closing in for KAVATurns out kava wasn't ready to break out of the ascending triangle I mentioned in my recent post just yet, price dropped and bounced from the bottom support. There are slight hidden bullish divergences on obv and rsi on the daily chart and price is lagging behind to that of some other alts and current price action is indicating it is ready to catch up. Expecting next test of the triangle top to result in a breakout and a strong move up. DYOR and trade safe!
Long
by BowserMan
1
Bullish Butterfly Ascends a Channel w/Underlying Fib LevelsHere I have BINANCE:XRPUSDT on the Weekly Chart! Beginning of March 2020, BINANCE:XRPUSDT hits its Lowest Low @ .1013 Beginning of April 2021, BINANCE:XRPUSDT hits its Highest High @ 1.9669 For context ~1,800% Increase in 1 Year Taking the Fibonacci Retracement Tool, we can see that Price made a drop after the Higher High (Point A) to the 78.6% level (Point B), created a Lower Low at the 32.8% (Point C), then was rejected after descending to the 88.6% (Point D) and with this Price Action, formed a Bullish Harmonic Butterfly Pattern!! Parameters: X - B .786 A - C .382 / .886 B - D 1.618 / 2.618 X - D 1.27 / 1.618 (B/D and X/D Fall Short) -Price is continuing to trade Above the 200 EMA With the short-coming completion of this pattern, sprouts an Ascending Channel that Price now currently is traversing up! -If Price can continue this upward path, I believe it will battle with the Overlying Resistance Zones that line up with these Fibonacci Levels! 1) .8139 - .9240 (61.8% - 55.9%) 2) 1.2542 - 1.5266 (38.2% - 23.6%) *Caution to those who see the Ascending Channel break Bearish, because then Price Action could be a signal of a Double Top!
Long
by Novi_Fibonacci
2
GOlD → stick to the long positionhello guys. I believe gold is still bullish and only long positions are logical. Channel Breakout: The price of gold has broken out of the main ascending channel, indicating a strong bullish move. Fake Divergence: A fake divergence was spotted, but the price continued to rise, rejecting bearish signals. Support Zone: The price is currently hovering above a significant support zone (highlighted in blue), which could serve as a springboard for further upward movement. Target: The next potential target lies near the upper boundary of the newly formed channel, around the $2,550 mark. Summary Breakout: Price broke above the main ascending channel. Support: Holding above a key support zone. Target: Aiming for $2,550 as the next potential resistance level. ___________________________ ✓✓✓ Always do your research. ❒❒❒ If you have any questions, you can write them in the comments below, and I will answer them. ❤︎ ❤︎ ❤︎And please don't forget to support this idea with your likes and comment
OANDA:XAUUSDLong
by melikatrader94
17
USO - Oil Prices are Rising LONGUSO follows the futures prices of oil barrels. On this 30 minute chart, price falls have been rejected by the POC line of the volume profile and the Lux Algo Donchian channel has transitioned from downgoing to trending up. The dual TF RSI of Chris Moody now shows RSI holding above 50 in both the 15 min and 60 min TFs. Net distribution has bottomed out and accumulation now exceeds distribution. I see this as an excellent entry to buy calls above the money at $70 or look into shares of USO / UCO/ GUSH ETFs or look at any of the oil sector stocks including well services which are typically small caps with great upside volatility with price action momentum. My favorite of those is BORR which currently is trending up and may have much of its move ahead. The ascending parallel channel of USO is perhaps a signal for the sector at large.
AMEX:USOLong
by AwesomeAvani
DOGE can ascend further!Hi. COINEX:DOGEUSDT Today, I want to analyze DOGE for you in a weekly time frame so that we can have a mid-term view of DOGE regarding the technical analysis. (Please ✌️respectfully✌️share if you have a different opinion from me or other analysts). We have a Bullish Structure here DOGEUSDT crossed out of the symmetrical triangle on weekly timeframe💡 ✌️Keep growing ✅ Due to the Ascending structure of the chart... - High potential areas are clear in the chart. - AB=CD Stay awesome my friends. _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ ✅Thank you, and for more ideas, hit ❤️Like❤️ and 🌟Follow🌟! ⚠️Things can change... The markets are always changing and even with all these signals, the market changes tend to be strong and fast!!
Long
by CobraVanguard
2
Potential BTC LONG setup - Ascending ChannelBTC has been ranging within an ascending channel since mid-October of 2023 and is currently testing the lower trendline of the channel. If the trendline holds, we can expect a bullish move back towards 49k. If the trendline fails, BTC will likely retest the 41k - 40k support area. Keep in mind that recent ETF approvals have created additional uncertainty in the market, so price action may be more unexpected than usual. Use multiple confirmations before entering any trade positions.
Long
by ClassicCrypt0
I Cannot Short This !!! situation+next targets.LINKUSDT is in an ascending triangle which means the price is about to do a good bullish movement. The price can increase as much as the measured price movement ( AB=CD ) .The break out needed for increasing further has not happened but it should happen pretty soon. 🤑Stay awesome my friends. _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ ✅Thank you, and for more ideas, hit ❤️Like❤️ and 🌟Follow🌟! ⤵️⤵️⤵️⤵️⤵️⤵️⤵️⤵️⤵️⤵️⤵️⤵️⤵️⤵️⤵️⤵️⤵️⤵️⤵️⤵️⤵️⤵️⤵️
Long
by CobraVanguard
USDCAD - Wait For The Rejection 📈Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst. 📉 USDCAD has been overall bullish trading inside the ascending triangle in red, and it is currently approaching around the lower bound / trendline. Moreover, the zone 1.33 - 1.34 is a strong support. 🏹 So the highlighted red circle is a strong area to look for buy setups as it is the intersection of the blue support and lower red trendline acting as a non-horizontal support. 📚 As per my trading style: As USDCAD is sitting around the red circle zone, I will be looking for bullish reversal setups (like a double bottom pattern, trendline break , and so on...) 📚 Always follow your trading plan regarding entry, risk management, and trade management. Good luck! All Strategies Are Good; If Managed Properly! ~Rich
by TheSignalyst
2
🚧Bitcoin is Bullish now🚧 & many Traders don't see it 👀!!!Bitcoin is in the channel as well as the ascending triangle, which could very well push the price up. If the price can break the triangle, the price will easily reach 40k 🟡Summery: The price is in the ascending channel. The price is in an ascending triangle. 🤑Stay awesome my friend. _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ ✅Thank you, and for more ideas, hit ❤️Like❤️ and 🌟Follow🌟! ⤵️⤵️⤵️⤵️⤵️⤵️⤵️⤵️⤵️⤵️⤵️⤵️⤵️⤵️⤵️⤵️⤵️⤵️⤵️⤵️⤵️⤵️⤵️
COINBASE:BTCUSDLong
by CobraVanguard
9
INDUSIND BANK IS ABOUT TO HAVE A NICE UPWARDS RIDE...TECHNICAL INDICATORS : ASCENDING TRIANGLE BREAKOUT - The stock has broken out of the this pattern on weekly chart REVERSAL FROM 50D, 100D, 200D SMA - The stock has also reversed from all the 3 sma simultaneously indicating very strong upside pressure building up REVERSAL FROM STRONG SUPPORT-RESISTANCE ZONE - On top of that the stock has also reversed from a zone which had earlier acted as support and resistance level multiple times FUNDAMENTAL INDICATORS : BETTER PROFIT MARGIN POSTED COMPARED TO ITS PEERS ON THE LAST QUARTER - The stock has also posted almost double profit margin percentage compared to ICICI, Kotak Mahindra and so on. Only SBI has posted same profit margin as indusind and sbi is also trading above all the 3 sma on Daily, Weekly & Monthly timeframes indicating the strength of this stock's upside momentum
NSE:INDUSINDBKLong
by peace_lover
TOMO WAITING GAME: Ascending Triangle On this hourly chart of BINANCE:TOMOUSDT , the coin forms an ascending triangle pattern. For this instance, there could be an imminent breakout or breakdown. This week can have a massive movement of the coin as the shape of a month-long triangle spans until approximately Wednesday as the price is squeezing inside as of today, so let's wait for the next days ahead and add this coin to your crypto watchlist. In analyzing the price movement, if a support breakdown happens, potentially hitting the support lines through a Fibonacci retracement from swing low to swing high. On the other note, a breakout occurs through the price overlapping the vertical resistance and potentially retesting to assess its firmness and identifying it as a possible new support line along with other key resistance lines. Always plan your trades by identifying take profit and stop loss areas for security. Moreover, discipline, one example is PATIENCE. Have a great week ahead, and happy trading!
T
by Habadoo