Are ascending triangles bullish?

Yes, the ascending triangle is a bullish chart pattern that develops during an uptrend and signals an upside breakout. The bullishness of this pattern comes from the squeeze between the ascending trendline and horizontal resistance line which ultimately will force the break out of the pattern. Are ascending triangles good?

How do you know if a descending triangle is a bearish pattern?

Descending triangle patterns are a bearish pattern. They have 3 or more previous support levels that form a flat bottom. They also have lower highs that form, causing a bearish trendline. Look for price to fail the base of the triangle. If price action retests the base and fails then you’ll have bearish confirmation.

What is an ascending triangle pattern?

An ascending triangle is a chart pattern used in technical analysis. It is created by price moves that allow for a horizontal line to be drawn along the swing highs and a rising trendline to be drawn along the swing lows. The two lines form a triangle. Traders often watch for breakouts from triangle patterns.