What is a bullish continuation pattern?

Bullish continuation patterns can assume different forms - triangles, flags, pennants etc. The ascending triangle is one of the most common formations in this area, as it practically consists of two converging trend lines.

Why is the ascending triangle a bullish pattern?

Because the ascending triangle is a bullish pattern, it’s important to pay close attention to the supporting ascension line because it indicates that bears are gradually exiting the market. Bulls (or buyers) are then capable of pushing security prices past the resistance level indicated by the flat top line of the triangle.

When should a bullish symmetrical triangle exit?

A bullish symmetrical triangle’s exit most often occurs at about 80% of the pattern. - Clean and forceful breaks/exits give better performance. - Performance is best when the bullish symmetrical triangle is formed at the beginning of a bullish trend.

What is a trendline pattern & how does it work?

This pattern is created with two trendlines. The first trendline is flat along the top of the triangle and acts as a resistance point which—after price successfully breaks above it—signals the resumption or beginning of an uptrend.