the Ascending tiangle is a bullish chart pattern used in technical analysis that is easily recognizable by the distinct shape created by two trendlines. In an ascending triangle, one trendline is drawn horizontally at a level that has historically prevented the price from heading higher, while the second trendline connects a series of increasing troughs.
Traders enter into long positions when the price of the asset breaks above the top resistance. But in this case, we can see that the volume is dropping and the MACD is showing divergence. Therefore qe should wait for a candle of confirmation after the breakout before entering the trade.
-Bollinger bands are tightening
Traders enter into long positions when the price of the asset breaks above the top resistance. But in this case, we can see that the volume is dropping and the MACD is showing divergence. Therefore qe should wait for a candle of confirmation after the breakout before entering the trade.
-Bollinger bands are tightening