How to Trade Ascending Triangle Chart Pattern in XAUUSD

How to Trade the Ascending Triangle Chart Pattern

Rising Wedge Chart Pattern

The ascending triangle chart pattern in xauusd is formed in a upward trend & it shows that the upward direction of the market is going to continue - the ascending triangle is a continuation chart pattern.

The ascending triangle chart pattern is also known as a rising wedge trading pattern.

Ascending Triangle xauusd chart pattern shows that there is a resistance level that the buyers keep pushing each time moving the resistance level higher, and once it breaks out gold price will continue moving in an upwards trend.

The overhead resistance temporarily prevents the gold market price from advancing higher, while the rising xauusd trend line beneath the rising wedge chart pattern signals that buyers are still present.

An up-side penetration of the upper ascending xauusd pattern line is a technical buy trading signal for a market breaking out from an ascending triangle chart pattern.

Ascending Triangle xauusd chart pattern is found within a XAUUSD upward trend, the ascending triangle chart pattern forms as a consolidation period within the upward trend & indicates upside xauusd trend continuation will follow.

XAUUSD Trade Ascending Triangle Chart Pattern in XAUUSD?

The xauusd market formed an ascending triangle chart pattern during its upwards xauusd trend which led to upside continuation as illustrated on the xauusd example above. The buy signal is when price clears the upper sloping ascending triangle pattern line and the xauusd market continues moving upwards - upward xauusd trend continuation.