# Ascending or Symmetrical Triangle

### Ascending Triangles

As we are about to enter this lesson, we need a familiarity with the following:

### Symmetrical Triangles There is no much difference between Ascending and Symmetrical triangle other than the one side sloping.

The structure of the Ascending triangle symbolizes a Resistance generally flat in nature at the top with the lower side sloping upwards as the price reaches higher lows. It can indicate that resistance is weakening and near a breakout to the upside. This clearly points out that the bulls are gaining command and is the possible buying opportunity.

This lesson will portray a two-way trading possibility using Ascending triangles. ### Practice Session

Exercise 1: Where is the ascending triangle? Show exercise

Exercise 2: Where is the ascending triangle? Show exercise

### Technique 1

One of the approaches is to “enter the resistance” as soon as the resistance level breaks and as the price raises upside.

The stop loss can be placed below the upwards sloping side of the triangle pattern and measure the profit target by taking the height of the back of the ascending triangle and extending that distance up from the trend line breakout.

The chart below demonstrates where to place the entry (blue), stop loss (red) and take profit levels (green): EL1: Entry as the price breaks out of the triangle to the upside.

SL2: Stop loss goes just below the slope of the triangle.

TP3: Profit target goes the same distance away as the back of the triangle.

Practice Session:

Exercise 1: Where would you put your entry, stop loss and profit target? Show exercise

### Technique 2

The second approach is to “wait for the price to break out of the triangle” (breaking through the Resistance level), as in the first example and then look to place a buy order on the retest of the previous support line (broken resistance now becomes support).

The stop loss would go below the new support area and the profit target would remain the same as in the first example – the length of the back of the triangle.

### The chart below demonstrates the second approach which is “the entry, stop loss and take profit levels” EL1: Long entry

SL2 :Stop loss goes below the support line

TP3 :Profit target goes the same distance above as the back of the triangle

You can practice where to place an entry and exit in the following exercises:

Exercise 1: Where would you put your entry, stop loss and profit target? Show exercise

### Nut shell

An overview of the lesson discussed so far…

The “Possible buying opportunity” is pointed out clearly using an Ascending triangle.

An ascending triangle pattern indicates a “Weakening Resistance and a potential Upward move”.

“Enter after the Resistance Level breaks” It could be either on a Breakout or on A Reset of the upper line.

The “Stop Loss” can be placed just below the lower, sloping level.

Measure the distance from the back of the triangle and extend that distance upwards from the entry point. This will determine the “Take profit Level”.