what is Ascending | Descending Triangle Chart Pattern

Ascending Triangle Chart Pattern is a Bullish form of chart pattern, in which we see a rising upward line (or support) and a Flat resistance Line, as name suggest Ascending Triangle support should be increasing making Lower high

Key feature of this pattern :-

1. Flat resistance at the Top,
2. Rising support at the Bottom,
3. Touching support or Resistance level atleast 2 or more times,
4. overall Trend of the security should be up for better results
5. Entry should be made after the Breakout (Breaking of Resistance Line)
6. Target should be double of Low Point and Entry Point
7. Stop Loss should be the immediate Swing Low from the Entry Point
8. Volume should be rising it shows market participents are active now

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Descending Triangle Chart Pattern is a Bullish form of chart pattern, in which we see a rising upward line (or support) and a Flat resistance Line, as name suggest Descending Triangle support should be increasing making Lower high

Key feature of this pattern :-

1. Flat Support at the bottom,
2. Falling Resistance from the Top,
3. Touching support or Resistance level atleast 2 or more times,
4. overall Trend of the security should be down for better results
5. Entry should be made after the Breakdown (Breaking of support Line)
6. Target should be double of highest Point and Entry Point
7. Stop Loss should be the immediate Swinghigh from the Entry Point
8. Volume should be rising it shows market participents are active now

Lets study with the help of Real time Example