This is an ascending triangle. Here is some details about trading it from a book called: Trade Chart patterns like the pro's, by Suri Duddella
Trade:
Trade a clear breakout of the top trend line. Enter a "long" trade one tick above the high of the breakout bar. Confirm the breakout by volume or other indicators.
Target:
"Ascending triangles" have excellent success in reaching target areas. The usual target would be the depth of the "Triangle". Measure the distance (depth) between the top trend line and lowest of the upward slope trend line. Add this depth to the breakout point from the top of the trend line. Targets are also set at 50% of depth level for partial exits.
Stop: Place a "stop" order when the price closes below the low of the lower trend line or a major swing low.
Trade:
Trade a clear breakout of the top trend line. Enter a "long" trade one tick above the high of the breakout bar. Confirm the breakout by volume or other indicators.
Target:
"Ascending triangles" have excellent success in reaching target areas. The usual target would be the depth of the "Triangle". Measure the distance (depth) between the top trend line and lowest of the upward slope trend line. Add this depth to the breakout point from the top of the trend line. Targets are also set at 50% of depth level for partial exits.
Stop: Place a "stop" order when the price closes below the low of the lower trend line or a major swing low.
Trade closed: target reached