The Ascending Triangle is a bullish continuation pattern. It forms when the price creates higher lows (๐ผ) while facing consistent resistance at the same horizontal level (๐ด).
๐ง How to Identify It
1) Flat Resistance Line
Price hits the same level multiple times and gets rejected
This creates a horizontal line on top
2) Rising Support Trendline
Each dip forms a higher low, indicating buying pressure
Connect the swing lows with a rising trendline
๐ How to Trade It
1) Entry ๐ : Breakout Entry: Enter when price breaks and closes above the resistance line with high volume ๐ฅ , Conservative traders wait for a retest of the breakout zone (resistance becomes support).
2) Target ๐ฏ : Measure the height of the triangle and project it upward from the breakout point
Example: If triangle height = $0.30, add $0.30 above breakout
3) Stop Loss ๐ก๏ธ : Below the last higher low Or slightly below the triangle support trendline
๐ Real Example $SUIUSDT (15-min chart)