Ascending Trend Line

A chart pattern is bullish pattern comprises of two or higher lows that can be connected with a straight line is called an ascending trend line. It is also known as an “uptrend line.
The pattern is formed by connecting two or more lows, with each successive low higher than the previous low. This generates an  upward sloping trend line.


Ascending Trend Line



It is concluded that the technical analysis is formed at prices trend, the trend lines is important for both identifying and confirming trends.
An ascending trend line behaves as support and indicates that demand (more buyers than sellers) is increasing even as the price rises.
Rising prices, coupled with rising demand, are very strong, and show really strong buying pressure.
As long as the price action stays above this line, this is a sharp trend.
Prices may rise as the trend line acts as support.
The price usually re-examines the sloping trend line several times, until it breaks down to where we can reverse the trend.
The more points you have to add, the stronger the trend line will be.
The strength of the trend line is also determined by how many market participants recognize the trend line.
If a lot of markets recognize the same trend line that you see, then the trend line meets itself.
If prices stay above the trend line for a long time, the up trend is considered solid and sustained.
A break below the rising trend line indicates that buyer demand has weakened and a change in trend is possible.
You can short the breakdown but be aware of fakeouts (false breakouts) though, if price breaks through the ascending trend line.

 

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