ForecastCity_ME
Education

💡Ascending Triangle in USDTRY - "Learn More Earn More" With US

OANDA:USDTRY   U.S. Dollar / Turkish Lira
Ascending Triangle Definition:

An ascending triangle is a type of triangle chart pattern that occurs
when there is a resistance level and a slope of higher lows.

It is defined by two lines:

. A horizontal resistance line running through peaks.
. An uptrend line drawn through the bottoms.

The higher lows indicate more buyers are gradually entering the market
and buying pressure increases as price consolidates moving further towards the apex.

An ascending triangle is classified as a continuation chart pattern.

If price can break through the resistance level , that level will now act as a support level .

Breakouts can also happen in both directions. Statistically,
upward breakouts are more likely to occur, but downward ones seem to be more reliable.

In most cases, the buyers will win this battle and the price will break out past the resistance.But Sometimes the resistance level is too strong, and there is simply not enough buying power to push it through. Therefore you should be ready for movement in EITHER direction.

ENTRY:
We would set an entry order above the resistance line and below the slope of the higher lows.

TARGET:
Target is approximately the same distance as the height of the triangle formation.

❤️ If you find this helpful and want more FREE forecasts in TradingView

. . . . . Please show your support back,
. . . . . . . . Hit the 👍 LIKE button,
. . . . . . . . . . Drop some feedback below in the comment!

❤️ Your Support is very much 🙏 appreciated!❤️
💎 Want us to help you become a better Forex trader?

Now, It's your turn!
Be sure to leave a comment let us know how you see this opportunity and forecast.

Trade well, ❤️
ForecastCity English Support Team ❤️
HighAccurate forecast for
🌟36 Forex Pairs: 876,000 pips track record profit
🌟34 Cryptos
🌟Gold, Silver, Oils, Gas
🌟Best Profitable Trading Strategies

in 8 languages

since 2007

http://www.ForecastCity.com
🌟FREE Telegram http://t.me/forecastcity_com

Comments

Still learning from you.
+3 Reply
ForecastCity_ME Mesutkashmar
@Mesutkashmar, That's good to hear. Thank you. We appreciate your comment
+1 Reply
Very educative and helpful. Thank you
+2 Reply
ForecastCity_ME DenizKilicDeniz
@DenizKilicDeniz, You're very welcome!
+1 Reply
Agreed with your udea
+1 Reply
ForecastCity_ME avidkhan5426
@avidkhan5426, Thank you for sharing your feedback.
Reply
Brilliant explanation. Thank you.
+1 Reply
ForecastCity_ME sofi_Morphy
@sofi_Morphy, You're very welcome! Thank you for sharing your feedback.
Reply
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter
Profile Profile Settings Account and Billing Referred friends Coins My Support Tickets Help Center Ideas Published Followers Following Private Messages Chat Sign Out