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Thomas Bulkowski’s successful investment activities allowed him to retire at age 36. He is an internationally known author and trader with 30+ years of stock market experience and widely regarded as a leading expert on chart patterns. He may be reached at

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Chart Patterns: After the Buy
Getting Started in Chart Patterns, Second Edition book.
Trading Basics: Evolution of a Trader book.
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Bulkowski's Broadening Formations, Right-Angled and Ascending

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Candles Chart
Small Patterns
Industrials (^DJI):
Transports (^DJT):
Utilities (^DJU):
Nasdaq (^IXIC):
S&P500 (^GSPC):
As of 04/23/2018
24,449 -14.25 -0.1%
10,621 42.25 0.4%
691 0.20 0.0%
7,129 -17.53 -0.2%
2,670 0.15 0.0%
Tom's Targets    Overview: 04/13/2018
25,300 or 23,400 by 05/01/2018
10,800 or 9,800 by 05/01/2018
670 or 710 by 05/01/2018
7,400 or 6,800 by 05/01/2018
2,750 or 2,600 by 05/01/2018

Written by and copyright © 2005-2018 by Thomas N. Bulkowski. All rights reserved. Disclaimer: You alone are responsible for your investment decisions. See Privacy/Disclaimer for more information.

For more information on this pattern, read Encyclopedia of Chart Patterns Second EditionEncyclopedia of Chart Patterns 2nd Edition book., pictured on the right, pages 28 to 44.

Updated with new statistics on 11/9/2017.

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The right-angled and ascending broadening chart pattern is not one you should consider trading. Many other chart patterns perform much better. Downward breakouts have a large break even failure rate which should disqualify them from your trading arsenal. Upward breakouts have only a middling average rise, and that's if you trade them perfectly.

Right-angled and ascending broadeningformation
Right-Angled and Ascending Broadening Formation


Important Bull Market Results

Overall performance rank for up/down breakouts (1 is best): Not available yet
Break even failure rate for up/down breakouts: 15%; 27%
Average rise/decline: 42%; 15%
Median rise/decline for up/down breakouts: 23%; 10%
Throwback/pullback rate: 67%; 66%
Percentage meeting price target for up/down breakouts: 68%; 40%

The above numbers are based on 503 samples for upward breakouts and 426 for downward breakouts, using 685 stocks data from July 1991 to October 2017. See the glossary for definitions.


Broadening Formations, Right-Angled and Ascending: Identification Guidelines

Price trendCan be up (73% have a rising price trend) or down (27%) leading to the pattern.
ShapeA megaphone tilted up with the bottom horizontal.
TrendlinesThe bottom trendline is horizontal, the top one slopes upward.
TouchesAt least five touches total, three peaks or three valleys should touch the associated trend line with two or more touches of the other trendline. Ideally, the second of three touches will touch (instead of coming 'close' to) the trendline.
VolumeTrends upward 61% of the time and downward 36% of the time.
BreakoutUpward 54% of the time.
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Broadening Formations, Right-Angled and Ascending: Trading Tips

Trading TacticExplanation
Measure ruleCompute the height from the highest peak (point A in the Measure Rule figure to the right) to the horizontal trendline (B) and multiply it by the above 'percentage meeting price target.' Add the result to the highest peak (A, upward breakouts) or subtract it from the horizontal trendline (B, downward breakouts) to get the price target (C).
Intraformation tradeBuy at the horizontal trendline when price starts rising and sell or sell short once price turns at the top trendline.
Buy at 3rd touchWhen price touches the horizontal trendline for the third time and begins rising, buy.
Partial riseA partial rise works 63% of the time.
Partial declineA partial decline works 81% of the time.
Price trendThe best performing patterns are those with a short-term (less than three months) rise leading to the pattern.
Yearly high, lowDownward and upward breakouts perform best when the breakout is within a third of the yearly low.
Volume trendA downward volume trend results in the best postbreakout performance.
Throwbacks and pullbacksThrowbacks and pullbacks hurt postbreakout performance.
Height, widthTall patterns perform better than short ones. Wide patterns (both breakout directions) perform well.
Right-angled and ascending broadening formation measure rule
The Measure Rule
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Bull Market Performance Over Decades
Breakout Direction1990s2000s2010s
Up (average)39%50%34%
Up (median)25%25%19%
Down (average)16%13%14%
Down (median)11%9%9%
Samples (up breakouts)148201154
Samples (down breakouts)174149103

Broadening Formations, Right-Angled and Ascending: Time Performance

The table on the right shows the performance of right-angled ascending broadening top chart patterns in bull markets over the last three decades.

Upward breakouts did best in the 2000s but worst in the 2010s (so far).

Downward breakouts outperformed in the 1990s compared to more recent decades.



Broadening Formations, Right-Angled and Ascending: Example

Right-angled and ascending broadeningformation chart pattern example

The above figure shows an example of a right-angled and ascending broadening formation. A strong advance begins at point D and that leads to the right-angled and ascending broadening formation. Price bounces between two diverging trendlines before it closes outside the bottom trendline at A. This marks the downward breakout. Price recovers and busts the pattern at C when price moves above the top of the chart pattern. A throwback completes at B and price climbs thereafter.

-- Thomas Bulkowski

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Other Broadening Formations, Right-Angled and Ascending: Examples


See Also

Written by and copyright © 2005-2018 by Thomas N. Bulkowski. All rights reserved. Disclaimer: You alone are responsible for your investment decisions. See Privacy/Disclaimer for more information. I hit the CTRL key but I'm still not in control!