Correct pattern in ASC smoothly

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Aug 6th, 2022
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How to correct pattern in ASC

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How to Correct pattern in ASC

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in this video were going to talk about the chart pan of the ascending or rising wedge stay tuned hr8 is a very warm welcome to you so okay were talking about this kind of really interesting ascending wedge chart pattern I see interesting because for me these arent clear-cut Im gonna explain the textbook way around Im gonna explain what I think is the best way of trading these as well so stay tuned for the whole other video guys okay ascending wedge what is all about lets look at the characteristics of it first of all lets just clarify we can use these on a day trading chart 1 minute 5 minute 3 minute whatever were using for a kind of multi-hour hold or multi minute hold you know a little bit cautious about them maybe on a 1 minute if were being that aggressive with it because it can be theyre a little bit noisy a little bit grubby a bit dirty pad not as clean as some of the others but you know if Im a daily maybe for hourly hourly I dont youre good to go on these I think

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Ascending triangles are generally considered bullish and are most reliable when found in an uptrend. The top part of the triangle appears flat, while the bottom part of the triangle has an upward slant. In ascending triangles, the market becomes overbought and prices are turned back.
Look at these statistics about the descending triangle: – In 54% of cases, there is a bearish breakout. – In 54% of cases, the target price can be reached when the support is broken. But when the bearish slant is broken, the percentage goes up to 84%.
What is a Descending Triangle? A descending triangle is a bearish chart pattern used in technical analysis that is created by drawing one trend line that connects a series of lower highs and a second horizontal trend line that connects a series of lows.
Ascending triangles are generally considered bullish and are most reliable when found in an uptrend. The top part of the triangle appears flat, while the bottom part of the triangle has an upward slant. In ascending triangles, the market becomes overbought and prices are turned back.
Contrary to popular opinion, a descending triangle can be either bearish or bullish. Traditionally, a regular descending triangle pattern is considered to be a bearish chart pattern. However, a descending triangle pattern can also be bullish. In this instance it is known as a reversal pattern.
Buy if the breakout occurs to the upside, or short/sell if a breakout occurs to the downside. A stop loss is placed just outside the opposite side of the pattern. 3 For example, if a long trade is taken on an upside breakout, a stop loss is placed just below the lower trendline.
Two or more equal highs form a horizontal line at the top. Two or more rising troughs form an ascending trend line that converges on the horizontal line as it rises. If both lines were extended right, the ascending trend line could act as the hypotenuse of a right triangle.
An ascending triangle is generally considered to be a continuation pattern, meaning that the pattern is significant if it occurs within an uptrend or downtrend. Once the breakout from the triangle occurs, traders tend to aggressively buy or sell the asset depending on which direction the price broke out.
Ascending triangle patterns are bullish, meaning that they indicate that a security's price is likely to climb higher as the pattern completes itself.
Ascending and Descending Triangles Ascending triangles have a rising lower trendline as a result of accumulation and are always considered bullish signals regardless of whether they form after an uptrend or downtrend.

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