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Welcome to OptionRally Academy, I'm Amy Anderson with the Term of the day.
Today we are going to talk about Ascending Triangle.
Ascending Triangle is a chart pattern which is representative of a bullish commodity.
The shape of the chart is what characterizes its name. The crests of the chart are bounded
above by a horizontal line while the chart's trofs are bounded below by an upward sloping
line.
An ascending triangle is generally considered to be a continuation pattern, which means
its usually found at a period of consolidation within an uptrend. Once the breakout occurs,
buyers will aggressively send the price of the asset higher, usually on high volume.
Traders will enter into long positions when the price of the asset breaks above the top
resistance, as you can see in the chart
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