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A bullish continuation pattern with a flat resistance line and rising support. Compression leads to a breakout, typically upward.
The Ascending Triangle is a bullish continuation pattern characterized by a flat resistance line at the top and a rising support line (higher lows) converging toward it. Price compresses into an increasingly narrow range until a breakout occurs.
The pattern typically forms during uptrends and resolves with an upward breakout approximately 70% of the time. The flat resistance shows sellers defending a level, while the rising lows show buyers becoming more aggressive.
The ascending triangle tells a story of mounting buying pressure. Price hits resistance and gets rejected - but each time it pulls back, buyers step in at higher prices. They're becoming more impatient, less willing to wait for lower prices.
The sellers at resistance keep defending their level, but they're fighting a losing battle. Each rally back to resistance adds pressure. Each higher low signals that the floor is rising. Eventually, the supply at resistance is exhausted.
When the breakout comes, it's often explosive - all those buyers who were accumulating on higher lows are now vindicated, and new buyers jump in to chase the move. This is why volume typically expands sharply on the breakout.
Conservative: Enter on confirmed close above resistance with volume.
Aggressive: Enter on breakout candle or buy at rising support line.
Below the rising support trendline, or below the most recent higher low within the pattern.
Measured Move: Height of the triangle (from first support touch to resistance) projected upward from breakout point.
Typically 1:2 or better depending on where you enter relative to the rising support.
The ascending triangle is most reliable as a continuation pattern within an existing uptrend. Context determines whether to trade aggressively or wait for confirmation.
The more times price tests resistance without breaking down, the more likely the eventual breakout. Each test weakens the sellers.
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