US30 4H The Ascending Triangle Pennants

Ascending Triangle Pennants found on US30 on the 4H timeframe. In this example, we can clearly see the dynamics of a triangle in a bullish market. Await for the end of the next 4h candlestick closure to see if pirce breaks the CTL and break through the lines of resistance for a possibility of buyers starting to gain more strength to make Higher lows (HL) and for price to push to the upside furthermore.

Comment:

Beware that it is not always the case that the buyers in this case will win the battle and the price will break out past the flat area of resistance.

-Sometimes the resistance level is too strong, and there is simply not enough buying power to push price through the lines of resistance.