what does ascending triangle mean in trading
Ascending Triangle A chart pattern formation that some traders use as indication of an uptrend continuation. An ascending triangle is a chart pattern used in technical analysis. It appears when an upward trend hits a level of resistance and begins a period of consolidation. The characteristics of an ascending triangle is that it has a relatively flat level of resistance and an upward sloping level of support, as depicted in the figure to the right. Lines of Support and Resistance. A line of support that is flat appears at very important psychological prices.