What Does Ascending Triangle Chart Pattern Mean?

Rising Wedge Chart Pattern

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

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 trading pattern.

What Happens to XAUUSD Price Action After Rising Wedge Ascending Triangle Chart Pattern in XAUUSD?

The xauusd market formed an ascending triangle pattern during its upward xauusd trend which led to upside continuation as shown on the xauusd example above.

The buy signal is when price breaks out above the upper ascending triangle pattern line and the xauusd market continues moving upwards - upward xauusd market xauusd trend continuation.