Term

Ascending triangles

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Ascending triangles is a Bullish continuation pattern that accurs midway a Bullish Market. It is formulated when the market reaches some sort of resistance, though the market at some point seems as if it cannot break above that resistance, however one will notice though that market keeps making higher lows consecutively. This indicates that the momentum is increasing although the price gets resisted at the top but the sellers cannot push it much lower than the previous low as a result of buying power, thus the market making higher lows consecutively. This formation gives the impression that the Triangle is ascending due to the higher lows the market keeps on making.

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