Ascending Triangle Pattern Explained

The ascending triangle is a continuation pattern and one of the forms of symmetrical triangles. It differs in that the upper part of the triangle is horizontal, forming a resistance level

Pattern Shape:

Pattern Formation Stages:

In an uptrend, buyers attempt to push the price higher, while sellers attempt to push the price lower
The price forms higher bottoms and peaks at the same horizontal level
After breaking the resistance level formed by the peaks, the price continues the upward trend

Utilizing the Pattern:

Buy after breaking the resistance area formed by the peaks

Pattern Target:

Measure the height of the triangle from the first bottom formed to the resistance area, then project the same distance from the breakout point

Conclusion:
The ascending triangle is a continuation pattern characterized by higher lows and a horizontal resistance level, indicating increasing buying pressure and a potential continuation of the upward trend after a breakout