the Ascending tiangle is a bullish
chart pattern used in technical analysis
that is easily recognizable by the distinct shape created by two trendlines
. In an ascending triangle
, one trendline
is drawn horizontally at a level that has historically prevented the price from heading higher, while the second trendline
connects a series of increasing troughs.
Traders enter into long positions when the price of the asset breaks above the top resistance. But in this case, we can see that the volume
is dropping and the MACD
is showing divergence. Therefore qe
should wait for a candle of confirmation after the breakout before entering the trade.
-Bollinger bands are tightening