EURUSD - H2 Chart - Ascending Continuation Triangle
An Ascending Continuation Triangle is considered a bullish signal. It indicates a possible continuation of the current uptrend. An Ascending Continuation Triangle shows two
converging trendlines. The lower trendline is rising and the upper trendline is horizontal. This pattern occurs because the lows are moving increasingly higher but the highs are maintaining a constant price level. The pattern will have two highs and two lows, all touching the trendlines.
This pattern is confirmed when the price breaks out of the triangle formation to close above the upper trendline
Volume is an important factor to consider. Typically, volume follows a reliable pattern: volume should diminish as the price swings back and forth between an increasingly narrow range of highs and lows. However, when breakout occurs, there should be a noticeable increase in volume. If this volume picture is not clear, investors should be cautious about decisions based on this Triangle
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“Markets are never wrong, but opinions often are.”-Jesse Livermore
Good Luck💛💛
An Ascending Continuation Triangle is considered a bullish signal. It indicates a possible continuation of the current uptrend. An Ascending Continuation Triangle shows two
converging trendlines. The lower trendline is rising and the upper trendline is horizontal. This pattern occurs because the lows are moving increasingly higher but the highs are maintaining a constant price level. The pattern will have two highs and two lows, all touching the trendlines.
This pattern is confirmed when the price breaks out of the triangle formation to close above the upper trendline
Volume is an important factor to consider. Typically, volume follows a reliable pattern: volume should diminish as the price swings back and forth between an increasingly narrow range of highs and lows. However, when breakout occurs, there should be a noticeable increase in volume. If this volume picture is not clear, investors should be cautious about decisions based on this Triangle
If you found my post helpful or informative, could you please leave a comment 💬🖌 and hitting that like button💚💚
“Markets are never wrong, but opinions often are.”-Jesse Livermore
Good Luck💛💛