As of 01/23/2020
Indus: 29,160 26.18 0.1%
Trans: 11,143 +144.06 +1.3%
Utils: 929 +8.61 +0.9%
Nasdaq: 9,402 +18.71 +0.2%
S&P 500: 3,326 +3.79 +0.1%

YTD
+2.2%
+2.2%
+5.6%
+4.8%
+2.9%

29,500 or 28,300 by 02/01/2020
11,500 or 10,700 by 02/01/2020
1,025 or 900 by 02/01/2020
9,600 or 8,900 by 02/01/2020
3,350 or 3,200 by 02/01/2020

As of 01/23/2020
Indus: 29,160 26.18 0.1%
Trans: 11,143 +144.06 +1.3%
Utils: 929 +8.61 +0.9%
Nasdaq: 9,402 +18.71 +0.2%
S&P 500: 3,326 +3.79 +0.1%

YTD
+2.2%
+2.2%
+5.6%
+4.8%
+2.9%
 
29,500 or 28,300 by 02/01/2020
11,500 or 10,700 by 02/01/2020
1,025 or 900 by 02/01/2020
9,600 or 8,900 by 02/01/2020
3,350 or 3,200 by 02/01/2020
 
Statistics updated 4/17/2019.
In my book Encyclopedia of Chart Patterns, you can read the complete treatment of ascending triangles, including identification guidelines, focus on failures, statistics, trading tactics, and a sample trade.
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Ascending Triangle

The ascending triangle is a mediocre performer despite its reputation as a reliable chart pattern.
Click ascending triangle to read about the Elliott wave version.
The above numbers are based on 899/531 (up/down breakouts) of perfect trades. See the glossary for definitions.
Characteristic  Discussion 
Price trend  Can be any direction leading to the chart pattern. 
Shape  Triangular. Prices move between two converging trendlines. 
Trendlines  Two trendlines bound prices; the top trendline is horizontal and the bottom one slopes upward. 
Crossing  Price must cross the pattern from side to side, filling the triangle with price movement, not white space. 
Touches  Price must touch one trendline at least three times, the other at least twice, forming distinct valleys and peaks. 
Volume  Trends downward 80% of the time. 
Breakout  Upward 63% of the time and 62% of the way to the triangle apex (upward breakouts) and 63% of the way for downward breakouts. 
Consult the figure on the right.
Trading Tactic  Explanation 
The Measure Rule


Measure rule  Compute the height from the price of the horizontal trendline (B) to the lowest valley in the pattern (A) and then multiply it by the above 'percentage meeting price target.' Add it (upward breakouts) or subtract it (downward breakouts) from the breakout price. The breakout price is the point at which price pierces the trendline. The associated link provides more information.  
Stop  Place a stop loss order on the side opposite the breakout unless that would be too far away. Click the link on the left for stop placement information. For example, if the breakout is upward, a stop at any of the minor lows on side A would work well. For downward breakouts, use the price of B as the stop price.  
Rise  Patterns with a intermediateterm rise (between 3 and 6 months) leading to the triangle show price rising an average of 49% after an upward breakout, but samples are only 175. 


Throwback and Pullbacks  Throwbacks and pullbacks hurt post breakout performance. The links on the left define terms. For performance information on throwbacks and pullbacks, click the associated link. 
Expect the market to turn when it reaches the apex of the triangle. See Triangle Apex and Turning Points.
The figure shows an example of an ascending triangle. Price bounces between two converging trendlines, the top one is horizontal and the bottom one slopes upward.
To calculate a price target, subtract the price of the lowest valley in the chart pattern (A) from the price of the top trendline (B). That gives the height. Multiply the height by the 'percentage meeting price target' from the Important Bull Market Results table near the top of this page, and add it to the price of the top trendline B. In this example, point C makes for a good stop location.
For downward breakouts, compute the height in the same manner only subtract the height from C.
 Thomas Bulkowski
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See Also

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