Ascending Triangle is a Bullish continuation Pattern. Hence the assumption is there already exists an Up Trend. Ascending Triangle Pattern can be explained as follows.
Ascending Triangle is a variation of Symmetric Triangle Pattern. The difference between Ascending Triangle & Symmetric Triangle is that the upper trend line is flat & lower trend line is rising. This means the buyers are more aggressive than seller. This is a bullish Pattern & ultimately it results in upward breakout & up trend continues.
Other Continuation Patterns
Technical Analysis Symmetrical Triangle
Technical Analysis Descending Triangle
Technical Analysis Flags & Pennants Pattern
Technical Analysis Rectangle Formation
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Technical Analysis Ascending Triangle
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