Trading Patterns – Ascending Triangle Pattern
January 15th, 2011
No comments
Here’s a post to share on Ascending Triangle Pattern:
Basically, the ascending triangle pattern is formed when the stock price maintain the same highs and at the same time make higher lows. The ascending triangle patterns are formed as buying demand gained more momentum and converges to the ‘sharp edge’ of the triangle before a upward break-out of the price.
Appended below is a picture illustration of a “Ascending Triangle” pattern:
Ascending Triangle Example
Source: Wikipedia
I have also appended a video explanation, see below:
Lastly, using a Singapore stock as an example, see the chart of Capitaland at around 3.69 level resistance, with the chart pattern forming an ascending triangle pattern formation before breaking out on 29 Dec 2010:
Capitaland Ascending Triangle Pattern
