Ascending and Descending Triangle

The Ascending and Descending Triangle Price patterns are also called right-angle triangle.

Ascending Triangle
Bullish continuation chart pattern
Forms during an uptrend
Marks a consolidation period
Flat upper resistance trendline
Rising lower trendline
Requires at least 2 reaction highs and 2 reaction lows
Volume is lighter as the trading contracts
An expansion of volume confirms the upside breakout
Projected price target:  add the widest part of the triangle to the breakout point

Descending Triangle
Bearish continuation chart pattern
Forms during a downtrend
Marks a consolidation period
Flat lower support trendline
Falling upper resistance trendline
Requires at least 2 reaction highs and 2 reaction lows
Volume is lighter as the trading contracts
An expansion of volume confirms the downside breakout
Projected price target:  add the widest part of the triangle to the breakout point