Ascending Triangle

The presenter discusses a basic chart cycle and where in the cycle to look for a triangle to set up in the corrective phases of a bull or bear market move.  He covers a few different triangle setups; the symmetrical triangle, descending triangle, and ascending triangle and discusses their configuration and implications

The speaker walks through a live trading example which illustrates a bullish ascending triangle pattern.  He mentions that volume provided him with the clue that the stock was getting ready to break out.  He talks about how he entered into this trade and then discusses the stop strategy that he uses to protect his profits. 

The speaker discusses the bullish ascending triangle and mentions it is a variation of the symmetrical triangle.  The top of the triangle appears flat while the bottom is rising.  The ascending triangle is a continuation pattern which should move sharply once it breaks out through the top end of the triangle.  The breakout should be accompanied by a large price move with heavy volume.