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Ascending Triangle (Continuation) - ChartSchool - StockCharts

Ascending Triangle (Continuation) - ChartSchool - StockCharts

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18/2/2014 Ascending Triangle (Continuation) - ChartSchool - StockCharts.com 1/4 StockCharts.com - ChartSchool Learn more about Technical Analysis and Charting Terminology You are here: StockCharts.com » ChartSchool » Chart Analysis » Chart Patterns » Ascending Triangle (Continuation) Advertisement Ascending Triangle (Continuation) The ascending triangle is a bullish formation that usually forms during an uptrend as a continuation pattern. There are instances when ascending triangles form as reversal patterns at the end of a downtrend, but they are typically continuation patterns. Regardless of where they form, ascending triangles are bullish patterns that indicate accumulation. Because of its shape, the pattern can also be referred to as a right-angle triangle. Two or more equal highs form a horizontal line at the top. Two or more rising troughs form an ascending trend line that converges on the horizontal line as it rises. If both lines were extended right, the ascending trend line could act as the hypotenuse of a right triangle. If a perpendicular line were drawn extending down from the left end of the
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18/2/2014 Ascending Triangle (Continuation) - ChartSchool - StockCharts.com 2/4 horizontal line, a right triangle would form. Let's examine each individual part of the pattern and then look at an example. 1. Trend : In order to qualify as a continuation pattern, an established trend should exist. However, because
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  • Spring '12
  • RamonBrunoTulibasJr.
  • triangle, horizontal line, Technical Analysis and Charting Terminology

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