These triangles have one flat line and one sloped line.
Flat top, rising lows
Flat bottom, falling highs
Ascending triangle (usually bullish)
Flat resistance on top, rising lows underneath. Buyers keep stepping in higher. Eventually resistance often gives way.
Descending triangle (usually bearish)
Flat support underneath, falling highs on top. Sellers keep pushing lower highs. Support often cracks.
Wick says
The sloped side is the side that's attacking. Rising lows = buyers attacking the ceiling. Falling highs = sellers attacking the floor.
Key takeaways
- Ascending = flat top + rising lows (bullish bias).
- Descending = flat bottom + falling highs (bearish bias).
- Confirm with a close beyond the flat line.