Get started

Ascending Triangle

📈 HOW TO: ASCENDING TRIANGLE PATTERN📍 What Is an Ascending Triangle? This pattern emerges when the price movement allows for a horizontal line to be drawn across the swing highs, while a rising trendline is drawn along the swing lows. These two lines together form a triangle shape. Traders actively monitor triangle patterns for potential breakouts, which can occur either upward or downward. Ascending triangles are often referred to as continuation patterns because they typically result in a breakout in the same direction as the prevailing trend that was present before the triangle formation. This pattern offers traders a clear entry point, profit target, and stop-loss level, making it a tradable opportunity. It is worth noting that an ascending triangle can be distinguished from a descending triangle. 📍 How to Identify and Use the Ascending Triangle Candlestick pattern To identify the ascending triangle pattern, you need to look for a period of price consolidation within an ongoing uptrend. During this phase, the price will exhibit a series of lower highs and higher lows, indicating a temporary balance between buyers and sellers. The upper resistance line of the pattern can be found by connecting at least two highs within the consolidation phase, while a rising trendline is drawn by connecting at least two higher lows. Confirming the pattern involves ensuring that the price was in a clear uptrend before the consolidation phase, the upper resistance line is horizontal or slightly slanted upward, and the rising trendline intersects with the upper resistance line. Additionally, analyzing candlestick patterns within the consolidation phase, such as doji, hammer, or engulfing patterns, can provide further confirmation of buying pressure. Once the ascending triangle pattern is confirmed, traders can set their entry and exit points. Typically, a long position is entered when the price breaks above the upper resistance line, indicating a bullish breakout. The height of the triangle pattern can be used to estimate a target price level, and a stop-loss order should be placed below the pattern to manage risk. 💥 Key Takeaways 🔹 Ascending triangles are considered a continuation pattern, as the price will typically break out of the triangle in the price direction prevailing before the triangle, although this won't always occur. 🔹 The trendlines of a triangle need to run along at least two swing highs and two swing lows. 🔹 A long trade is taken if the price breaks above the top of the pattern. 🔹 A short trade is taken if the price breaks below the lower trendline. 🔹 A profit target is calculated by taking the height of the triangle, at its thickest point, and adding or subtracting that to/from the breakout point. 🔹 A stop loss is typically placed just outside the pattern on the opposite side from the breakout. 👤 @QuantVue 📅 Daily Ideas about market update, psychology & indicators ❤️ If you appreciate our work, please like, comment and follow ❤️
Education
by QuantVue
3
Ascending Triangle Pattern In GodrejConsumerPr(Daily Timeframe)!We can see the Godrej Consumer Pr is making ASCENDING TRIANGLE PATTERN in daily timeframe. We know ASCENDING TRIANGLE PATTERN is bullish pattern so i am avoiding to take sell side position. This is my personal reason to take only Long side trade if price breakes and closes above 986.30 level. The stock is in consolidation zone about 16 months. So as per my understanding it has gain sufficient momentum to show the upside rally in further trading sessions. Entry = One can initiate the trade in the long side if prices successfully breaks and closes above 986.30 StopLoss = Stop Loss below 943.10. The reason behind placeing stoploss below its recent support level because i have seen many times the price could take support exactly at recent support level and went up so to avoid Stop Loss to be hit i have given some buffer/ Tolerance to the Stop Loss. I always believe in Factor of Safety. Target = I have marked 2 targets (1)1071.55 (2)1137.85. But you can exit your trade if price is about to hit your target levels. If your 85% - 90% target achieved then you can exit from your trade to avoid further volatility(If you want to play safe).
NSE:GODREJCPLong
by Avinash9087
APTOS TOKEN UNLOCKAPT has a token unlock fast approaching, 0.45% of the total supply (4.5m APT) is to be unlocked at 0.5:30 UTC on 12th June 2023. Here are my thoughts going into this event, how I feel the market will react as well as key areas to look out for. Firstly looking back to the latest APT token unlock back in January. We saw initial sell side pressure as new tokens flood the market, a gradual decline in price throughout the day ending in a -9% drawdown. However the days that followed were very bullish, with APT climbing approximately 40% the following week post unlock. This is not unnatural price movement during an unlock event, so although not guaranteed, we can assume similar will happen this time too. As the chart shows price is currently following a triangle pattern capped by a local high of $9.00 that is being tested as I write this post. Just above is a bearish orderblock created by a price action imbalance and happens to create a good midpoint for the short term range we find ourselves in. This area will be a large obstacle for APT and in my opinion will cap off the short term rally we have had going into the unlock. Then as we approach June 12th, price sells off temporarily due to high sell side pressure of a large influx of new coins. Before buyers react and look to attack that midpoint once more with new buyers that happily bought lower during the unlock event, perhaps using the 4H 200ema as new support that has now upturned and looking bullish. These are just my thoughts on the upcoming event, in reality nobody knows what the future holds however the past can be used to learn from. DYOR NFA
by ProR35
1
BETA/USDT WCA - Ascending Triangle Company: Beta Finance Ticker: BETA Exchange: Binance Sector: Cryptocurrency Introduction: Today's technical analysis will be focusing on BETA/USDT trading pair on Binance exchange. Despite being a relatively new coin, an exciting pattern has developed on its weekly chart that may imply a change in the prevailing downtrend. Ascending Triangle Pattern: The Ascending Triangle pattern, typically recognized during periods of consolidation,can be viewed as a bullish pattern or bearish pattern. It is characterized by a horizontal resistance line, and an ascending support line. Analysis: BETA/USDT has experienced a significant downtrend since its inception, which is represented by the blue diagonal line. We see that a consolidation phase interrupted this downtrend, forming an Ascending Triangle pattern. The horizontal resistance is at 0.12131 with four touchpoints, while the ascending support line has five touchpoints. Due to the relatively young age of the chart (86 weeks old), the EMA calculation has been adjusted to a 21-week EMA. The price appears to be consolidating above this EMA, suggesting a bullish environment. If the price successfully breaks above the horizontal resistance, we could consider entering a long position. The projected price target would then be at 0.18625, indicating a potential upside of approximately 53.61%. Conclusion: BETA/USDT's weekly chart reveals an interesting setup in the form of an Ascending Triangle, suggesting a possible end to the current downtrend. This setup could present a profitable long trading opportunity. Disclaimer: This analysis is not financial advice and is intended for educational purposes only. Always do your own research and consult with a financial advisor before making investment decisions. If you found this analysis helpful, please consider liking, sharing, and following for more insights. Wishing you profitable trading! Best regards, Karim Subhieh
by KarimSubhieh
3
GARAN DCA - Ascending TriangleCompany: Turkiye Garanti Bankasi Ticker: GARAN Exchange: BIST Sector: Financials Introduction: Welcome to our daily technical analysis, focusing today on Turkiye Garanti Bankasi (GARAN), a leading player in the Financials sector, listed on the BIST. Ascending Triangle Pattern: This Ascending Triangle pattern forms during an uptrend and is viewed as a bullish continuation pattern. It's characterized by a horizontal resistance line (formed by equal highs) and an ascending trend line (formed by increasing lows), illustrating the rising bullish sentiment. Analysis: Garanti Bankasi's chart is displaying a clear Ascending Triangle pattern. The upper horizontal boundary sits at 31.80 TRY, with three points of contact—the third being a false breakout which underscores the importance of stop losses. The lower, upward-sloping boundary also has three touch points. Moreover, the 200 EMA is acting as robust support, suggesting a bullish environment and favoring long setups. Given these factors, we're keeping a keen eye on this chart for a potential breakout above the horizontal resistance. A breakout could present an opportunity for a long position. The price target, assuming a successful breakout, is set at 45.60 TRY, implying a potential gain of approximately 43.50%. Conclusion: Garanti Bankasi's daily chart presents an interesting setup in the form of an Ascending Triangle, indicative of a potential bullish continuation. This analysis should form part of a broader market research and risk management strategy. Remember, this is not financial advice and investing always carries risk. If you found this analysis helpful, please consider liking, sharing, and following for more insights. Wishing you profitable trading! Best regards, Karim Subhieh
BIST:GARAN
by KarimSubhieh
Ripple (XRP) WCA - Ascending TriangleCompany: Ripple Ticker: XRP Exchange: Binance Sector: Cryptocurrency Introduction: Welcome to today's technical analysis. Our focus is on Ripple (XRP), a prominent cryptocurrency, traded on the Binance exchange. The weekly chart is currently showing an Ascending Triangle pattern, suggesting a possible bullish trend in the offing. (XRP/USDT) Ascending Triangle Pattern: The Ascending Triangle is a bullish pattern and is typically seen during an uptrend as a continuation pattern, or can also be observed in a downtrend acting as a reversal pattern. It's characterized by a flat upper trendline (resistance) and a rising lower trendline (support). Analysis: Previously, Ripple was in a distinct downtrend, represented by the blue dashed diagonal resistance line. However, we now appear to have entered a consolidation phase that has lasted 385 days so far, taking the form of a classic Ascending Triangle pattern. The upper boundary, also the horizontal resistance, is at $0.55 and has 2 touch points. The lower upward-sloping boundary has an incredible 5 touch points. Currently, the price is above the 200 EMA, supporting the thesis that we should be looking for long setups. Although we do not know when or how the price will ultimately break out, we can prepare for the more likely scenario: A breakout above the horizontal line with a clear candlestick close would be our entry. The price target would then be approximately $0.84, corresponding to a potential gain of 50.50%. Conclusion: Ripple's weekly chart reveals an intriguing setup in the form of an Ascending Triangle, suggesting a possible bullish trend. This setup could present a profitable long trading opportunity. However, patience is required as this is a weekly chart and it may take some time for the breakout to materialize. This setup could be considered a watchlist candidate and setting up an alert might be beneficial to not miss any breakout. Disclaimer: This analysis is for informational purposes only and should not be interpreted as personal investment advice. Trading cryptocurrencies carries a high level of risk and may not be suitable for all investors. Always conduct your own research and consult with a professional before making any investment decisions. If you found this analysis helpful, please consider liking, sharing, and following for more insights. Wishing you profitable trading! Best regards, Karim Subhieh
by KarimSubhieh
LOW WCA - Ascending TriangleCompany: Lowe's Companies, Inc. Ticker: LOW Exchange: New York Stock Exchange (NYSE) Sector: Consumer Discretionary Introduction: In today's technical analysis, we're focusing on Lowe's Companies, Inc. (LOW), a prominent player in the Consumer Discretionary sector listed on the New York Stock Exchange. Lowe's weekly chart is currently showcasing an Ascending Triangle pattern, indicative of a potential bullish reversal. Ascending Triangle Pattern: An Ascending Triangle pattern typically emerges during periods of consolidation and is often considered a bullish indicator. The pattern is characterized by a flat upper trendline (resistance) and an ascending lower trendline (support), both of which converge as the pattern matures. Analysis: Previously, Lowe's was in a noticeable downtrend, as indicated by the blue diagonal resistance line. However, over the last 420 days, Lowe's stock price has consolidated, forming an Ascending Triangle pattern. This pattern is considered to act as a bullish reversal indicator. The Ascending Triangle's upper horizontal boundary lies at $221, boasting three touchpoints, while the upward sloping lower boundary also shows three touchpoints. The symmetry of these touchpoints lends credibility to the Ascending Triangle pattern. Should we observe a breakout above the Ascending Triangle, we can anticipate a potential price target of $270. This implies a potential opportunity for a 22% price increase from the breakout level. Conclusion: This analysis suggests that Lowe's Companies, Inc. may be primed for a bullish reversal, representing potential investment opportunities. As always, it's essential to validate this technical analysis with other indicators, market trends, and relevant news for comprehensive investment decisions. Not financial advice. If you found this analysis helpful, please consider liking, sharing, and following for more insights. Wishing you profitable trading! Best regards, Karim Subhieh
NYSE:LOW
by KarimSubhieh
LDO USDT WCA - Ascending Triangle Experiment Exchange: Binance Project: Lido DAO Ticker: LDO Sector: Cryptocurrency Introduction: Today, we will be conducting a technical analysis of the Lido DAO/USDT on the Binance exchange on a weekly scale chart. This analysis is particularly intriguing as the pattern formation we're observing typically occurs during reversal or continuation stages in a more mature market. However, Lido DAO is a new entrant in the market, turning this analysis into a compelling experiment. Pattern Analysis: The key pattern formation observed in Lido DAO is an Ascending Triangle. The upper horizontal boundary of this triangle is at $3.125 and has been touched thrice. Similarly, the lower, upward-sloping boundary also has three touchpoints. Usually, we would use the 200 EMA to identify the market environment. However, due to the novelty of the chart, we will need to adapt our approach. With the chart and pattern being 378 days old, I have calculated a makeshift EMA as follows: 378 days -> 54 weeks -> 54/4 -> 13.5 -> 14. This yields the 14 EMA. At present, the 14 EMA doesn't indicate a bullish environment, underlining the importance of not jumping into trades prematurely. Projection: Despite the current lack of a bullish environment, we can still provide a price target for those holding Lido DAO. Should the price break above the upper boundary, the price target would be $5.55, representing a potential increase of 77%. Conclusion: While Lido DAO is currently a watchlist candidate, it's crucial to be patient and wait for more bullish signals before making any trading decisions. As always, this analysis should be considered as part of a comprehensive trading strategy, with adequate risk management measures in place. Keep a keen eye on this experimental chart, and happy trading! Best Regards, Karim Subhieh
by KarimSubhieh
USD/JPY can ascend further🌟The USDJPY is in a Bullish phase by reaching a PRZ zone 🌟 Bullish signals are: - Bullish Cup & Handle - Dynamic Support zone - Pivot R1 weekly - Ascending Triangle ⭐ Note if the PRZ is broken downwards with the strength of Bearish candles from bottom Of the PRZ zone , this analysis of ours will be failed. ⏮️Previous Analysis⏮️ ✅If this post was useful for you, like it ❤️ and if you think it is useful for your friends, be sure to send it to them. _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ 🌍Thank you for seeing idea . Have a nice day and Good luck.
Long
by CobraVanguard
10
ADBE WCA - Ascending TriangleCompany: Adobe Inc. Ticker: ADBE Exchange: NASDAQ Sector: Technology Introduction: Thank you for joining me for today's technical analysis. We will be examining Adobe Inc. (ADBE), a leading company in the Technology sector, listed on the NASDAQ. Our focus is on an Ascending Triangle pattern that has been developing on the weekly chart. Ascending Triangle Pattern: An Ascending Triangle pattern is often indicating a potential reversal or continuation of the trend. This pattern is formed when the price oscillates between a flat resistance line and an upward sloping support line. Analysis: In the case of Adobe, the previous trend was downward, as indicated by a blue diagonal resistance line. However, we are now witnessing the formation of an Ascending Triangle pattern, indicating a possible bottom reversal. The horizontal resistance of the triangle is set at $397.36, with four touchpoints recorded. Meanwhile, the rising support line, which originates at $275.20, has also been touched four times. Notably, the current weekly candle (the third touch point) is making an attempt to break through the horizontal resistance line. The 200 EMA closely aligns with the horizontal resistance, further underlining the significance of this level. A breakout – defined as a weekly candle closing above the horizontal resistance line – could present an excellent entry point for a long position. If a breakout does occur, the price target would be approximately $524. This represents a potential gain of around 32%. Minor resistance could be encountered at 446,51. Conclusion: Adobe Inc.'s weekly chart paints an intriguing picture, with an Ascending Triangle indicating a potential bottom reversal. Traders should keep a keen eye on this setup, as a breakout could signal a strong buying opportunity. Remember, this analysis does not serve as financial advice but a guiding point for your own research. Always consider your risk management strategies when trading. If you found this analysis helpful, please like, share, and follow for more updates. Happy trading! Best regards, Karim Subhieh
NASDAQ:ADBE
by KarimSubhieh
IRM WCA - Ascending Triangle Company: Iron Mountain Incorporated (Delaware) Ticker: IRM Exchange: NYSE Sector: Real Estate Introduction: Hello, and welcome to today's technical analysis. We are diving into the weekly chart of Iron Mountain Incorporated (IRM), a Real Estate company traded on the NYSE. Analysis: Taking a look at Iron Mountain's price movement, we can observe a series of interesting patterns. The price was initially propelled into an upward trend by an Ascending Triangle pattern and since the breakout from the ascending triangle took place, price is comfortably sitting above the 200 EMA. So it acted as a reversal pattern. This bullish trend was then enhanced by an accelerating trendline. Following this phase of acceleration, the price entered a kind of sideways trend characterized by a Broadening Triangle pattern. This period of consolidation has since morphed into a new pattern. For the past 399 days, an Ascending Triangle pattern has been forming. The upper horizontal boundary of this pattern has been touched five times, while the upwards sloping trendline acting as support has seen two touch points. It's worth noting that the breakout from this pattern may take some time due to the nature of the data interval that we selected, but due to its potential significance, Iron Mountain Incorporated should be closely monitored as a key watchlist candidate, in whichever way it will break out. Conclusion: In conclusion, Iron Mountain Incorporated presents a compelling case for a trade candidate, with a second Ascending Triangle forming after a period of sideways consolidation. The significance of a future breakout should not be underestimated. As always, this analysis does not constitute financial advice. Please conduct your own research and consider your risk tolerance when making investment decisions. If you found this analysis helpful, feel free to like, share, and follow for more updates. Happy trading! Best regards, Karim Subhieh
NYSE:IRM
by KarimSubhieh
AUDUSD POTENTIAL SHORT FORMATION IN PROGRESSWhen we zoom out on the higher time frames, we can see that the pair is in a strong downtrend despite the bullish correction in the daily time frame which lasted a few days. We have listed various reasons which support our bearish basis. 1: Monthly time frame trend suggests a strong downtrend. 2:Price failed to break the lower high formed on the 4th of April 2023 3:Trendline like breakout 4: Ascending triangle breakout We will wait for price to correct on the lower time frames before looking for an entry. We need the trade to be a minimum of 1 to 3 risk reward before we consider looking for an entry.
Short
by NDOBObanks
Bank Nifty Trade Setup (24-May-2023)This will be my personal trade Setup, This is not an advice of any kind to initiate trade according to this setup. So today BNF Opened gap up and unable to sustain the gap again as happening from last week and keep in consolidation. From price action this is forming a ascending triangle and price is moving in wave as plotted in chart. Today BNF Took Support near lower trendline and for tomorrow setup i will keep these things in mind: 1.) Price is moving in wave which might move up from this level to the upper ATH level. If opens flat and price sustains i will initiate CE Buy trade. 2.) If opens gap down or doesn't sustain the opening 15 minutes i will Take PE Buy for Next near Support (43730-43700). 3.) If Opens gap up between this triangle i will wait for price action to form and then trade accordingly. Also on Break of this Pattern on either side will be a good move. so will try to have some patience and will not buy aggressively. also will stop loss less than 35 points as if there will be good move even 35 points stop loss doesn't trigger as it does in sideways when there is price manipulation. Hit like to keep me motivated for keeping my trading journal. also one can comment how i can make it better or any improvements i can make in my trading setups or improving this journal.
NSE:BANKNIFTY
by TradeInsights
Nifty Trade Setup (24-May-2023)This will be my personal trade Setup, This is not an advice of any kind to initiate trade according to this setup. Today as expected and posted in yesterday's analysis Nifty opened Gap up and even tried to sustain the gap but failed as price action went flat for whole day and at close when i checked it rejected today's highs. For tomorrow i will trade keeping these things in mind: 1.) Today's CPR was virgin CPR and it might test it and may take support near it. 2.) From price action it's in wave in ascending triangle which took support and lower trendline. 3.) If market opens flat and hold 15 min candle about it i will buy CE for target of Today's High. 4.) If market opens gap down and took support at today's Virgin CPR will look for buying CE near this support For target for Today's Open (18365) as that will act as resistance now. 5.) If market opens gap up between triangle then will wait for price action if it breaks this pattern on either side and according to it i will trade. Hit like to keep me motivated for keeping my trading journal. also one can comment how i can make it better or any improvements i can make in my trading setups or improving this journal.
NSE:NIFTY
by TradeInsights
I Cannot cannot Short This !!! situation+next targets.The USDJPY is in a Bullish phase by Ascending Triangle & Cup & Handle. 🌟 Bullish signals are: - Bullish Cup & Handle - Dynamic Support zone - Pivot S1 weekly - Ascending Triangle ❗ and the Upward signals of market momentum are: - The Bottom of the Bollinger band ⭐ Note if the Triangle or cup & handle is broken downwards with the strength of Bearish candles, this analysis of ours will be failed. ✅If this post was useful for you, like it ❤️ and if you think it is useful for your friends, be sure to send it to them. _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ 🌍Thank you for seeing idea . Have a nice day and Good luck.
Long
by CobraVanguard
26
SPX: Many Powerful Patterns | Complete Trend Analysis.• The SPX did a Double Bottom chart pattern, just above the 4,048 support area, indicating that it is poised to seek higher levels from here; • The trend is still bullish, and only if it performs a clear lower high/low we would see this changing – meaning, if the index is about to reverse, the confirmation will come if it loses the 4,048; • For now, it appears it is seeking the next resistance at 4,195. There’s no bearish reversal structure or top signal indicating that it would frustrate this bullish momentum yet. • In the weekly chart, it seems the index is inside an Ascending Triangle chart pattern. By breaking the 4,195 (the next technical resistance seen in the daily chart), the index will trigger a powerful bullish reversal pattern; • The previous 2 candlestick patterns are Hammers, with long shadows under their bodies, which reinforces the bullish sentiment; • Again, the index would have to lose the 4,048 in order to frustrate this sentiment. So far, it is still a bull trend. I’ll keep you updated on this. Remember to follow me to keep in touch with my daily analysis.
SP:SPX
by Nathan_The_Finance_Hydra