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GBPJPYForex GBP/JPY
4HAsc. triangle · 5 testsBreakout
209.950-0.74%
Ascending Triangle
Flat resistance tested several times above rising swing lows; completes on a close above resistance.
An ascending triangle has a horizontal upper boundary and a rising lower boundary. Each pullback stops at a higher low while sellers keep defending the same level, until the level gives way. It is classified as a bullish pattern.
Breakouts near the apex tend to be weak; a close back below resistance often negates the pattern.
How we define it
- Resistance: a best-fit horizontal level through at least 3 swing highs (2 on 1W)
- Support: a rising line through at least 3 swing lows from the pattern low, spanning most of the pattern; no close below it
- The range narrows to at most 60% of its starting height; the breakout comes before 3/4 of the way to the apex
- Minimum length: 2 months on 1D, 3 months on 1W, 10 days on 4H (from the first boundary test to the breakout or breakdown)
- Breakout (up) / breakdown (down): the first candle close above the upper boundary or below the lower boundary by at least 3% on 1D and 1W (1.5% on 4H), following Edwards & Magee
- Failed breaks: a breakout or breakdown that closes back inside the boundary within 6 candles on 4H, 5 on 1D or 3 on 1W is removed from the list
- Trend filter: breakouts only above the 200-period EMA (40-week EMA on 1W), breakdowns only below it
- Watchlist: the pattern meets the length and test rules, has not broken yet, and price is within 3% (or 1 ATR, at most 6%) of the boundary
Recent breakouts & breakdowns (2)
Nothing on the watchlist
No mature ascending triangle is close to its breakout or breakdown level right now.