Recently, those analyzing charts have been frequently discussing the ascending triangle pattern. This pattern, which I also find interesting, is known to be a quite reliable indicator of trend continuation in technical analysis.

To explain how the ascending triangle pattern forms, prices hit a horizontal resistance level at the highs while consistently finding support at higher levels at the lows. This creates a triangular shape. Each time the resistance level is tested, it becomes weaker. At the same time, the support levels strengthen, creating pressure within the formation.

It is precisely at this point that the ascending triangle pattern signals a potential upward breakout in price. The target price calculation is also quite logical: measure the distance from the horizontal resistance band to the rising trend formed by the lows, then project this distance upward after the resistance is broken.

However, there is an important point to consider here. Although patterns are effective in chart modeling, they are successful about 60-65% of the time. That means even if we see an ascending triangle pattern, the expected movement does not always occur. Fake breakouts and traps are quite common. Therefore, when making investment decisions, you should not rely solely on this pattern type.

My recommendation is to evaluate the ascending triangle pattern together with other technical indicators. Consider momentum, volume, and other support/resistance levels as well. Risk management and money management should always be prioritized. Be patient when analyzing charts and do not give the same weight to every pattern.