SPYvsGME

#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 .

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