Chart Pattern Analysis
figUre 13.30 An Ascending Triangle Formation as a Continuation Formation on the
15‐Min Chart of EURUSD.
Source: MetaTrader 4figUre 13.31 Ascending Triangles as Reversal Formations on the Daily Chart of Mi-
cron Technology Inc.
Courtesy of Stockcharts.comIn Figure 13.30, we see an ascending triangle meeting its minimum one‐to‐one
price objective. Notice how price retraces at this one‐to‐one profit‐taking level.
In Figure 13.31, we see various ascending triangles meeting their mini-
mum one‐to‐one price targets. The ascending triangle formed between July
and August is the only one that did not fail, that is, it did not break out to the