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 and it shows that the upward direction of the xauusd market is going to continue - the ascending triangle is a continuation chart pattern.
The ascending triangle chart pattern is also known as a rising wedge chart pattern.
Ascending Triangle xauusd chart pattern shows that there is a resistance level that the buyers keep pushing each time moving the resistance level higher, and once it breaks xauusd price will continue moving in an upward 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 upside penetration of the upper ascending gold pattern line is a technical buy signal for a market breaking out from an ascending triangle chart pattern.
Ascending Triangle xauusd chart 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 chart pattern during its upward gold trend which led to upside continuation as shown 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.
