Trading patterns known as an ascending triangle and a rising wedge are relatively comparable to one another and offer traders distinct entry and exit points. The resistance line, which is vertical in the descending triangle pattern, is horizontal in the ascending triangle pattern. Because both patterns have similar directions and shapes, inexperienced traders may get the two patterns confused with one another.
This is the primary distinction between the two patterns. It is perfectly level, and the support line slopes in a direction that leads to convergence. If you want to steer clear of misunderstandings, it's important to monitor how the price moves once the pattern has finished forming.
Even though both patterns do the same thing, most people think of the ascending triangle as a pattern that continues a trend and the rising wedge as a pattern that reverses a trend. If you want to further expand your understanding, you should focus on the volume higher for downswings on the rising wedge than the ascending triangle, which has a high volume on the upswing move. If you want to learn more, you should focus on the volume.
Price action traders frequently make use of ascending triangles and rising wedges as trading patterns. In technical analysis, a reversal pattern is referred to as a rising wedge, while a continuation pattern is an ascending triangle. The ascending triangle pattern is distinguished from the descending triangle pattern by the presence of a horizontal resistance line. Both patterns can be traded by either anticipating a breakout of the pattern or a retreat to the zone where the pattern was broken. These patterns are simple to recognize, but there is a possibility of false breakouts taking place.