nico1fx

ascending triangle

Long
OANDA:NZDSGD   NZD/SGD
ascending triangle

The ascending triangle is a bullish formation that usually forms during an uptrend as a continuation pattern. There are instances when ascending triangles form as reversal patterns at the end of a downtrend, but they are typically continuation patterns.


Every time when the market breaks out through a certain resistance or support level , there will be a pullback sooner or later. If the price returns to a few pips of the entry point and tests it, this is called a breakout test.