![]() Advantages and Limitations of the Ascending Triangle ![]() The measuring technique can be applied once the triangle forms, as traders anticipate the breakout.Īfter viewing a strong break above resistance, traders can enter a long position, setting a stop at the recent swing low and take profit target in line with the measuring technique. Thereafter, the ascending triangle appears as the forex candlesticks start to consolidate. When trading the ascending triangle, traders need to identify the uptrend and this can be seen in the USD/CAD chart below. The illustration below shows the distance from A to B can be transferred higher up, from C to D, in order to project a possible take profit level. ![]() That same distance can be transposed later on, starting from the breakout point and ending at the potential take profit level. The ascending triangle has an inherent measuring technique that can be applied to the pattern to gauge likely take profit targets.įor the ascending triangle,traders can measure the distance from the start of the pattern, at the lowest point of the rising trendline to the flat support line.
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