The ascending triangle is a bullish continuation pattern and is characterized by a rising lower trendline and a flat upper trendline that acts as support. This pattern indicates that buyers are more aggressive than sellers as the price continues to make higher lows. The pattern completes itself when the price breaks out of the triangle in the direction of the overall trend.

The Ascending Triangle as a Bottoming Pattern

The location of the ascending triangle about the trend will determine whether a reversal or continuation of the trend is more likely to occur. The ascending triangle can appear at the bottom of a downtrend, indicating that the downward momentum is fading before potentially changing direction. Therefore, the location the pattern appears in is crucially important.


The ascending triangle is fairly easy to spot on forex charts once traders know what to look for.

  1. Uptrend: The market must be in an uptrend before the ascending triangle appears. This is important and emphasizes that traders should not simply trade the pattern whenever the ascending triangle appears.
  2. Consolidation: The ascending triangle starts to take on its form as the market enters the consolidation phase.
  3. Rising lower trendline: While the market is consolidating, a rising trendline can be drawn by connecting the lows. This ascending trendline shows that buyers are slowly pushing the price up – which provides further support for a bullish trading bias.
  4. Flat upper trendline: The upper trendline acts as resistance. Price often approaches this level and bounces off until the breakout eventually occurs.
  5. Trend continuation: After the price posts a strong break above the upper trendline, traders will look for confirmation of the pattern via continued upward momentum.


The ascending triangle has an inherent measuring technique that can be applied to the pattern to gauge likely take profit targets.

For the ascending triangle, traders can measure the distance from the start of the pattern, at the lowest point of the rising trendline to the flat support line. That same distance can be transposed, later on, starting from the breakout point and ending at the potential take profit level.

The illustration below shows the distance from A to B can be transferred higher up, from C to D, to project a possible take profit level.