Generally Ascending triangle is for spotting continuation of existing trend but FXI is showing it after bottoming in January 2016. Let us see what happens. Expecting price to print in 50 area in next 6 months. Yes, it is slow moving ETF, but good for options. chartpatterns.com/ascendingtriangles.htm
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IN-OUT Trade: FXI June 23 , Vertical spread 39.50/41.50 for $0.85 placed on May 30. Current price is about $1 after 3 trading days.
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Dinkan
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And you call this drawing an Ascending triangle.... Great!!!!
wave_rider
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@Dinkan, It meets requirement of Ascending Triangle. I,e, Higher Low (28.10,31.04,33.91, and so on), but
There is no priory trend so this is certainly not continuation pattern.