Wednesday, September 2, 2009

Ascending Triangle (Important Chart Patterns)

Occurs when there is a resistance level and a slope of higher lows (HL). It happens where there is a certain level that the buyer cannot seem to exceed. They are pushing the prices up as evident by the higher lows (HL).

  • Consists of HL & resistance.
  • It usually means that the price will break the resistance line and go higher but you should place entry orders on both sides just in case the resistance line is too strong.
  • Place your entry orders above the resistance line & below the higher lows (HL).

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