To The Moon

We sincerely apologize for the inconvenience caused by technical issues that prevented us from distributing Tiger Coins to those who commented on the previous technical analysis article. To rectify this, we have reissued the article, and Tigers who answer questions under this article will receive the retroactive Tiger Coin rewards.

The ascending triangle is a common price pattern in technical analysis. It usually appears in an upward trend, indicating that prices may continue to rise.

From a technical pattern perspective, the ascending triangle is a bullish pattern.

The breakthrough of the ascending triangle is the key moment. When the price breaks through the resistance line, it indicates that the bullish forces are strengthening, which may trigger more buying pressure and the price is expected to continue to rise.

Investors often use this breakthrough as an entry signal and set appropriate stop-loss positions to manage risks. The ascending triangle pattern is composed of the following 4 characteristics:

1. Upward trend line:

In the ascending triangle, there is an upward-sloping trend line connecting the low points of rising prices. This trend line is formed by the support levels of rising prices.

2. Horizontal resistance line:

Above the ascending triangle is a horizontal resistance line connecting the high points of rising prices. This resistance line forms the upper limit of prices.

3. Horizontal range:

In the ascending triangle, prices form a horizontal range between the trend line and the resistance line. The width of this range will gradually narrow, indicating that buying and selling forces are gradually balanced.

4. Rising trading volume:

In the ascending triangle, rising trading volume is usually accompanied. This indicates that market participants' interest in rising prices is increasing.

Here is an example to help you better understand the ascending triangle technical pattern:

S&P 500 Index (SPX):

Between April and May 2023, the SPX formed an obvious ascending triangle. The support line gradually rose while the resistance line remained horizontal. Finally, the technical pattern broke through the resistance line and continued to rise.

When using the ascending triangle technical pattern for analysis, you also need to pay attention to the following points:

1. Confirm the trend:

Before looking for an ascending triangle, make sure the market is in an upward trend. The ascending triangle is considered a pattern that continues the upward trend, so it is best to look for it in a clear upward market.

2. Confirm support and resistance lines:

Accurately identifying the support and resistance lines of the ascending triangle is very important. The support line connects the low points of rising prices, while the resistance line connects the high points of rising prices.

3. Observe trading volume:

In the ascending triangle pattern, trading volume usually decreases gradually. However, when the price breaks through the resistance line, the trading volume may increase. Therefore, paying attention to changes in trading volume can provide additional confirmation signals.

4. Confirm the breakthrough:

The key is to confirm whether the price has successfully broken through the resistance line. In general, a real breakthrough should be accompanied by higher trading volume, and the price should be able to stay above the breakthrough point.

Of course, this technical pattern is not an absolutely accurate prediction tool, and the market has risks and uncertainties.

Therefore, you should conduct a comprehensive analysis by combining other technical indicators, market trends and fundamentals, and formulate an investment strategy suitable for you.

At the same time, it is recommended to set appropriate stop-loss positions to control risks and protect investments.

【Reply to Win Rewards】

Tigers who select the right chart pattern of the Ascending Triangle from the following three figures will receive 5 Tiger Coins. (Please comment on the stock or the photo directly)

Figure 1

Figure 2

Figure 3

Tigers who share stocks of chart out of the following options will be rewarded with 10 Tiger Coins.

【Event Duration】

3 July 2023--13 July 2023