Hi all,
An ascending triangle is classified as a continuation chart pattern.
Continuation patterns are expected to lead to the continuation of an existing trend.
While the ascending triangle is considered a bullish continuation pattern, exceptions are quite possible. It’s not infrequent to see it develop in downtrend conditions.
Breakouts can also happen in both directions. Statistically, upward breakouts are more likely to occur, but downward ones seem to be more reliable.
Price is in an interesting area here.
Strong resistance around 8.4
Depending on your strategy offers a great RR.
Regards,
An ascending triangle is classified as a continuation chart pattern.
Continuation patterns are expected to lead to the continuation of an existing trend.
While the ascending triangle is considered a bullish continuation pattern, exceptions are quite possible. It’s not infrequent to see it develop in downtrend conditions.
Breakouts can also happen in both directions. Statistically, upward breakouts are more likely to occur, but downward ones seem to be more reliable.
Price is in an interesting area here.
Strong resistance around 8.4
Depending on your strategy offers a great RR.
Regards,
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Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.