I would like to start a new series for Technical Analysis Fundamentals. My first post will be about “Triangle Formations”. I am also happy to inform that I will share real time examples within my blog. I hope you will enjoy. Let’s start!

Ascending Triangle Formation

[IMAGE: https://steemitimages.com/DQmQSUPqxSNmLWWnuqhJWHr2ULPcBhcSXDmkXs5QVkvg9tz/E%C4%9Fitim%20-%20Y%C3%BCkselen%20%C3%9C%C3%A7gen%20-%20b.png]

• In this triangle formation we have a resistance line at the top of the pattern that is horizontal and the support line underneath is rising. I showed the height of the triangle formation with “h”.
• “h” is an important value for us. It Indicates the “minimum” price target after the resistance breakout.

[IMAGE: https://steemitimages.com/DQmS8f8LmM7LkbeawLBdRhG4TQGiCJ5hjUCdAsCAZqUtL2C/E%C4%9Fitim%20-%20Y%C3%BCkselen%20%C3%9C%C3%A7gen%20-%20a.png]

How to earn money with this formation?

• If the trader take a position once the price action breaks through the top line of the triangle with increased volume, which is when the price should rise an amount equivalent to the height of the triangle.

[IMAGE: https://steemitimages.com/DQmWCdv174GJCvSA4FFgfVAd5wj7BqZmrTKEzEjogtfitp6/E%C4%9Fitim%20-%20Y%C3%BCkselen%20%C3%9C%C3%A7gen%20-%20c.png]

• In Monetha Case, the resistance level is at 2280. Notice the break out at 2280 with high volume. That's is the time to "buy" Monetha. The price reach Its target (2500) and even goes more.

• Once you buy above 2280 (Let's say you bought at 2400) then you should also place a stop loss underneath of the old resistance level (2280) Once Resistance level is passed It becomes a support level :)

• As Always, I would like to remind Trend is your best friend :) As long as the price stays above the moving average It represents an “Upward” Trend. As long as the price stays below the moving averages It represents an “Downward” Trend.

You may access my latest Bitcoin analysis here!

Legal Disclaimer: This is only my opinion, make of it what you wish. What does this mean? It means it's not advice nor recommendation to either buy or sell anything! It's only meant for use as informative or entertainment purposes.

[IMAGE: https://steemitimages.com/DQmRhDtjokAZnGKi4QwheqksKTFo6m4fsjMYsNNrsitC1xk/U5dsnt2Y19qmNJ6S4rHWGSU4yi4wucH.gif]

If this blog post has entertained or helped you to profit, please follow, upvote, resteem and/or consider buying me a coffee:
BTC Wallet : 1DdZHLa6RSqXRDf8yjzUunayqUaDNVLq4d
ETH Wallet : 0xe4Ee873f570eFB3ED536b9C184eBb3A91dE38798

If you want to invest in crypto currency you may sign up Binance via my referral link : https://www.binance.com/?ref=12196199

[IMAGE: https://steemitimages.com/DQmT1mdH4WiFZj1ipvLRqEPJ118ExJuiR91v5QW493up5Fg/giphy.gif]