#2 Bullish Pattern: Ascending Triangle

NASDAQ:AMZN   Amazon.com, Inc
#2 Ascending Triangle

The 2nd most bullish pattern is the Ascending Triangle .

The Ascending Triangle is formed after an initial trend higher and is typically a consolidation before price continues higher.

The price oscillation during consolidation consists of at least 2 swing highs and 2 swing lows.

Eventually price meets at the top of the triangle and a breakout occurs.

It’s common for ascending triangles to have one or more false breakouts before a final price direction is achieved.

Price target is determined from taking the height of the thickest end triangle.

Interested in more bullish patterns? See #1 Double Bottom .


The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.