What is an Ascending Triangle?
An ascending triangle is a technical chart pattern that indicates the potential for a continued uptrend. It features a horizontal resistance line at the top and an upward-sloping support line. This pattern forms as the price hits the same resistance level at the highs while the lows steadily rise. 📈
A breakout above the horizontal resistance suggests a strong potential for further price increases, presenting a good buying opportunity. 💹
My targets for this trade:
1) 242 🎯
2) 291 🎯
3) 350 🎯
The ideal entry for a long position is after the daily candle closes above the horizontal resistance level.
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