Ascending Triangle Breakout – Bullish Continuation or Pullback?

Feb 11

🔍 Pattern: Ascending Triangle
📍 Key Levels:

Resistance Level: 2882.29
Lowest Trendline Point: 2834.18
Breakout Price: 2942.69
Pullback Retest Level: 2881.79

📊 Trade Plan:
✅ Long Entry: If price holds above 2881.79 after retesting, target 2990.80 (projected breakout target).
❌ Invalidation: If price falls below 2881.79, reassess the setup or consider stopping out.

🎯 Target: The breakout target from the triangle’s height is 2990.80 (Height = 48.11).
🔄 Pullback Action: A successful retest of 2881.79 as support could lead to continuation toward the target.

💡 Confirmation:
🔹 Watch for price action and volume during the pullback to 2881.79.
🔹 A strong bounce or higher lows after retesting support gives confidence in a move toward 2990.80.

#AscendingTriangle #PriceAction #Forex #Stocks #Crypto #ChartAnalysis

Feb 14

Trade closed: stop reached