ATLASUSDT H1 - Ascending Triangle & Bullish Pennant combination
Potential Breakout?
Here I've drawn both, An ascending triangle & a bullish pennant.
Ascending Triangle: 5 touches of this resistance line, with price noticeably tightening up and converging more and more after each touch. After the 3rd touch (failed break out) you see price really bunch up at the top, and volume lessen, which makes me anticipate a breakout.
Bullish pennant: After analysing the ascending triangle, I noticed a decrease and sloped formation with the swing highs. I drew a trendline that matched up and connected with my lower trend line creating a bullish pennant.
This tells me that price is indeed starting to funnel, and in combination with the decrease in volume and my analysis of the ascending triangle pattern. I feel increased affirmation that price is indeed priming for a breakout.
Question:
is it someone pointless layering those two patterns together, seeing as the ascending triangle kind of shows all of that already with more information?
Here I've drawn both, An ascending triangle & a bullish pennant.
Ascending Triangle: 5 touches of this resistance line, with price noticeably tightening up and converging more and more after each touch. After the 3rd touch (failed break out) you see price really bunch up at the top, and volume lessen, which makes me anticipate a breakout.
Bullish pennant: After analysing the ascending triangle, I noticed a decrease and sloped formation with the swing highs. I drew a trendline that matched up and connected with my lower trend line creating a bullish pennant.
This tells me that price is indeed starting to funnel, and in combination with the decrease in volume and my analysis of the ascending triangle pattern. I feel increased affirmation that price is indeed priming for a breakout.
Question:
is it someone pointless layering those two patterns together, seeing as the ascending triangle kind of shows all of that already with more information?
Thông báo miễn trừ trách nhiệm
Thông tin và ấn phẩm không có nghĩa là và không cấu thành, tài chính, đầu tư, kinh doanh, hoặc các loại lời khuyên hoặc khuyến nghị khác được cung cấp hoặc xác nhận bởi TradingView. Đọc thêm trong Điều khoản sử dụng.