How to trade ASCENDING TRIANGLE?
Trend: Bullish/Bearish
Type: Bilateral
Timeframe: From 1h
Entry point: After the price closes outside of the pattern
Shape: A triangle with a horizontal resistance level and a tightening support line. The price is pressed to the resistance level by the support
Trendlines: Two resistance and support lines that form a triangle, while the resistance line is horizontal, and the support diagonally pushes the price to the resistance level
Intersection:
Candles completely fill the channel of the figure without empty space
Touches: The price touches the resistance and support lines, from two times each
Volume:
Increase of the volumes in the breakout zone
Confirmation:
The pattern is confirmed when the price closes outside one of the trendlines
Support/Resistance:
After the price closes outside of the pattern, the support or resistance line may become a mirror level
Breakout chance:
75% - Upward/25% - Downward