![]() ![]() Well, the short answer is bullish however, the long answer is that it can be both. “Is ascending triangle bullish or bearish?” If you try to buy every swing high you can get stuck in a whipsaw when you’re trading this pattern. Only then start buying on the next candle opening. What you need to do is to wait for the triangle pattern to break out and close above our resistance line. Other times, the pattern will develop spiky bars that will lead to false breakouts. Often you’ll see the ascending wedge pattern which will break the resistance line but have no real momentum behind the breakout. The first little trick that we’ve learned is that on a price chart, the triangle pattern will rarely have a perfect shape. Now that we’ve learned how the ascending formation looks, we want to share with you two things that we have learned from trading the bullish triangle. Descending triangles develop within bearish trends.Ascending triangles develop within bullish trends.In the case of the bullish ascending triangle, we need to have a previous uptrend to support the breakout of the triangle. Ascending Triangle vs Descending Triangle Remember that all continuation patterns like the bullish flag, rectangle pattern, and many others that you can find through our Trading Strategy Guides website, need to have a context of a trend. ![]() See the chart below: Ascending triangle 1 2 The second element of the ascending triangle is a slanting or a rising trendline moving upwards. Hence, we have developed a resistance line. This shows that the market has tried multiple times to break the resistance top but it couldn’t. The first element of this price pattern is an upward-sloping trendline followed by a flat top. Note*: the reverse of an ascending triangle is the descending triangle also known as the bearish triangle. The triangle chart pattern is generally considered a bullish pattern. The ascending triangle is also known as the bullish triangle because it leads to a bullish breakout. The ascending triangle formation is a continuation pattern and as the name suggests it has the shape of a triangle. What is the difference between an ascending triangle pattern and a megaphone pattern?.What does an ascending triangle indicate?.Conclusion – Ascending Triangle Formation.How to trade Ascending Triangle Pattern.Ascending Triangle Pattern in Downtrend.Ascending Triangle vs Descending Triangle.What is the Ascending Triangle Pattern?. ![]()
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