Introduction to Ascending Triangle

The speaker provides an indepth overview of the ascending triangle and suggests that it is one of the most reliable technical chart patterns out there.  The ascending triangle is a bullish continuation pattern which has a flat upper resistance line with a rising uptrend line.  The resistance line should be touched at least two times or more while the price should be supported at the rising uptrend line.  To confirm a breakout, one would need to see a strong close with heavy volume above the upper resistance line.

The closer the closing price comes to the apex of the triangle, the less reliable the pattern is.  He also mentions that volume should remain light throughout the triangle formation; however, the breakout should come with very heavy volume in comparison. 

Psychology of Ascending Triangle:  The psychology of the pattern has supply at the resistance line with reduced selling pressure on each successive dip.  This would indicate less people willing to sell after each failed attempt to take out resistance.  This would indicate strength building in the stock. 

Furthermore, the video covers some live examples to illustrate what an ascending triangle should look like, including a discussion on the volume within the pattern. 
Tim Ord
Ord Oracle

Tim Ord is a technical analyst and expert in the theories of chart analysis using price, volume, and a host of proprietary indicators as a guide...

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