fascinating chart-where to from here, page-146

Hi Shares, not sure of the term ascending triangle but yes. Equilateral triangle, pennant, flag, all refer to the same type pattern where the SP tightens to the point of breakout to the upside or downside and is a common point for TA traders to select their point of entry/exit.

Flag and pennant patterns
Flags and pennants are familiar chart patterns that are short-term in nature (usually not longer than a few weeks). They’re continuation patterns that are formed immediately after a sharp price movement, which is usually followed by a sideways price movement. Both the flag and the pennant are similar except that the flag is triangular whereas the pennant is in a channel formation.


One of the many tools in a TA traders bag of tricks.