Ascending and descending triangle

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The ascending triangle is a bullish pattern. It is  usually a continuation from a bullish trend but can be a reversal pattern if at the end of a bearish trend. It is formed by equal highs and higher lows showing a the buyer have control of the market and the bears are weakening until they eventually lose there strength causing a bullish trend to break out.

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The defending triangle is a bearish pattern. It is usually a continuation pattern from a bearish trend, but also like the ascending triangle, it is possible to see it as a reversal pattern if at the end of a bullish trend. It is formed by equal lows and lower highs showing the sellers have control of the market and the buyers strength is weakening until they lose their strength causing a bearish trend to break out.

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