EDUCATION: Ascending Triangle

Hello, dear subscribers!
Today we will talk about the most popular chart pattern - the ascending triangle. This is commonly known bullish pattern and its correct recognition will help you to earn money.

How to identify the Ascending Triangle?
First of all we should clearly understand that the price now is in global uptrend. The socond one is the uptrend support line. There are should be at least three attempts to break this line down. The last component of the ascending tringle formation is the horizontal resistance line.

How to trade with the ascending triangle?
If the ascending triangle pattern is formed you should identify the breakout point. It is the most difficult part of the analysis because the ideal triangle pattern is rare. We have to find some confirmation of the uptrend continuation with another indicators.
The last question is how to set the take profit. It is usually used the triangle height for the take profit setup.