![]() This approach goes long when the price trades above the highs of the Ascending Triangle.Īll you need to do is place a buy stop order and you’ll immediately be long when the price trades above the highs. Let me explain how to trade ascending triangle… 1. How to time better time your entry using 1 of these 3 techniques ![]() And the last thing you’d want to do is go short.īecause in the next section, you’ll learn when is the best time to enter a trade when trading the Ascending Triangle chart pattern. This means the market is likely to breakout higher. Not every Resistance level is meant for shorting because you must watch how the price approaches it.īecause you’ve learned that higher lows coming into Resistance (an Ascending Triangle) is a sign of strength. Now according to most ascending triangle trading textbooks, they’ll tell you to go short when the price is at Resistance, right? ![]() Now before you trade the Ascending Triangle chart pattern… Don’t make this common mistake when trading the Ascending Triangle chart pattern (that most traders never realize) The other two are the Descending Triangle Pattern and Symmetrical Triangle Pattern. The Ascending Triangle is one of the three triangle chart patterns out there. Well, these buy stop orders will be triggered and it fuels further price advance. Buy stop orders are clustered above Resistanceīecause as the price re-test Resistance, more traders will look to short the market and place their stop loss above Resistance.īut what if the market breaks out higher? Instead, it should move lower quickly.īut, if the price is still hovering near Resistance, it means there’s lack of selling pressure even though it’s at an “attractive” level. Now if there’s strong selling pressure, the price shouldn’t remain at Resistance for long. The fact the market can form a series of higher lows tells you that there is demand even as the price continues higher. If the buyers are not willing to buy at higher prices, you won’t see higher lows coming into Resistance. The buyers are willing to buy at higher prices
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