When you look to trade an ascending triangle, one of the key benefits to this pattern is its defined price target on the upside. The target is taken from the depth of the pattern and added to the breakout – from our example last week in Bow Energy (BOW), the break out level was $1.35 with the depth of the pattern of 20c implying a price taregt of $1.55. BOW is trading around this level today.
Tags: ascending triangle, bow energy, CFDs, pattern, price target
