What Does Ascending Triangle Chart Pattern Mean?
Rising Wedge Trading Pattern
The ascending triangle chart pattern in gold trading is formed in a upwards trend & it shows that upwards direction of the market is going to continue - the ascending triangle is a continuation 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-out xauusd price will continue to move in an upwards trend.
An up-side penetration of the upper ascending gold pattern line is a technical buy signal for a market breaking out from an ascending triangle chart pattern.
What Happens to Gold Price Action After Rising Wedge 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 breaks out above the upper ascending triangle pattern line and the xauusd market continues moving upwards - upward gold market trend continuation.
