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Trading the triangle pattern
The ascending triangle pattern is a chart formation that forms after an uptrend. In an ascending triangle, the bull run stalls – but as a continuation pattern, it signals that the good times will resume once the resistance line is broken. To spot an ascending triangle, look for a market that was trending upwards but is now bouncing off a horizontal resistance level. Its lows, however, should be steadily rising each time, giving an upward-sloping support line. This consolidation period can’t last forever, and at some point, the market will have to break out beyond either line. If it breaks out upwards, the pattern ... (full story)
