How Do I Trade Ascending Triangle Chart Pattern?
How to Trade the Ascending Triangle Chart Pattern
Rising Wedge Trading Pattern
The ascending triangle chart pattern in gold trading is formed in a upward trend & it shows that upwards direction of the market is going to continue - the ascending triangle is a continuation chart pattern.
The ascending triangle pattern is also known as a rising wedge pattern.
Ascending Triangle xauusd pattern shows that there is a resistance level that the buyers keep pushing each time moving the resistance level higher, & once it breaks-out xauusd price will continue heading in an upwards trading trend.
The overhead resistance temporarily prevents the xauusd price from advancing higher, while the rising gold trend line beneath the rising wedge chart pattern signals that buyers are still present.
An up-side penetration of the upper ascending gold pattern line is a technical buy trading signal for a market breaking out from an ascending triangle chart pattern.
Ascending Triangle xauusd pattern is found within a Gold Trading upward trend, the ascending triangle chart pattern forms as a consolidation period within the upward trend and indicates upside gold trend continuation will follow.
Gold Trade Ascending Triangle Chart Pattern?
The gold market formed an ascending triangle pattern during its upwards gold trend which led to upside continuation as illustrated on the xauusd trading example above. The buy signal is when price clears the upper sloping ascending triangle pattern line and the xauusd market continues moving upwards - upward gold trend continuation.
