many thanks - i am new to chart analysis. please help with your view ? is it bullish or bearish? what are the important levels?
viveksmmf
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@mgfk, The ascending triangle is a bullish formation that usually forms during an uptrend as a continuation pattern. There are instances when ascending triangles form as reversal patterns at the end of a downtrend, but they are typically continuation patterns. Regardless of where they form, ascending triangles are bullish patterns that indicate accumulation.
mgfk
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@viveksmmf, many thanks for your quick support. it means if price closes above the horizontal line break out testing area -- can we enter long? with stop loss of bottom of inclined line of triangle? please advice
viveksmmf
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@mgfk, I'm not a professional adviser, so I can't give u any buy or sell recommendations...