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Ascending Triangle: Forex Chart Pattern

Ascending Triangle Definition

The Ascending triangle is a trend continuation pattern typically formed in an uptrend that serves for existing direction confirmation.
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Ascending Triangle Formation

Ascending Triangle pattern is represented by a narrowing price range between high and low prices, visually forming a triangle. The main distinctive feature of this type of triangles is that it generally has a horizontal trendline (resistance) connecting the highs at roughly the same level and an ascending trendline ( support) connecting higher and higher lows.

Ascending Triangle Pattern
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Interpretation of Ascending Triangle

When the price breaks above the resistance line (plus certain deviation is possible), usually somewhere between halfway and three-quarters of the way through the pattern, a buy signal is received.

Target price

Following an ascending triangle pattern formation the price is generally believed to rise at least to its target level, calculated as follows:

T = R + H,


T – target price;

R – resistance (horizontal line);

H – pattern’s height (distance between support and resistance lines at pattern’s origin).

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How to use Ascending Triangle in trading platform

You can see the graphical object on the price chart by downloading one of the trading terminals offered by IFC Markets.

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