The ascending triangle, is a bullish(ascending) continuation pattern. Although they are continuation pattern, they are bullish in nature and normally means that an up-trend is coming in the short future. the ascending triangle also indicates accumulation, whereby the low gets higher (supported by the lower uptrend line) while resistance tends to remove at the same level (top resistance line).
Below shows an illustration of an ascending triangle.
Any price outbreak from this triangle can be obtained by adding the widest distance between the top and support line to the break out position.
Take a look at my previous post for an
example.
http://singaporestocktechnicalanalysis.blogspot.sg/2013/11/past-technical-analysis-that-huat.html
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