Ascending Triangle
A chart pattern with a flat ceiling and rising lows, often read as buyers pressing until the ceiling breaks.
An ascending triangle forms when price keeps hitting the same horizontal resistance while each pullback stops higher than the last. Squeeze those two lines together and you get a triangle with a flat top and a rising bottom.
The picture is of buyers leaning harder and harder on a door. Many traders watch for a breakout above the flat top, and some measure the triangle's height to estimate how far the move might run. Doors do not always give way, though: a break below the rising line cancels the idea.
Measuring an ascending triangle
- GBP/USD tops out at 1.2700 three times.
- Lows climb from 1.2550 to 1.2600 to 1.2650.
- Widest height: 1.2700 − 1.2550 = 150 pips.
- A close above 1.2700 suggests a rough target near 1.2850.
Bottom line: The target is a guide, not a promise; plenty of breakouts fizzle.
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