$SUSHI Performing Ascending Triangle in 1D TF Also BREAKOUT DONE
What the Ascending Triangle Shows Us
The ascending trend line chart pattern is a bullish formation. It signals that the market is consolidating after an uptrend, with the buyers still in control. The occurrence of the higher lows is pointing toward a likely breakout as the wedge narrows down."
**There are three key features of an ascending triangle:
Strong trend - In order for the ascending triangle to exist in the first place, the price action must stem from a clear uptrend;
Temporary pause - This element refers to the consolidation phase, which will help the buyers consolidate their strength;
Breakout - The break of the upper flat line marks the breakout, which activates the pattern. It also helps us determine the entry, take profit, and stop loss at a later stage.
The ascending trend line chart pattern is a bullish formation. It signals that the market is consolidating after an uptrend, with the buyers still in control. The occurrence of the higher lows is pointing toward a likely breakout as the wedge narrows down."
**There are three key features of an ascending triangle:
Strong trend - In order for the ascending triangle to exist in the first place, the price action must stem from a clear uptrend;
Temporary pause - This element refers to the consolidation phase, which will help the buyers consolidate their strength;
Breakout - The break of the upper flat line marks the breakout, which activates the pattern. It also helps us determine the entry, take profit, and stop loss at a later stage.