What Does Rising Triangle Chart Pattern Mean?

Rising Wedge Pattern

The ascending triangle chart pattern setup in xauusd is formed in a upward trend and it shows that upward direction of the market is going to continue - the ascending triangle is a continuation chart pattern setup.

Rising Triangle pattern setup highlights that there's a resistance area that the buyers keep pushing every time moving the resistance area higher, & once it breaks out price will continue to move in an up-wards trend.

An upside penetration of upper ascending pattern line is a technical buy signal for a market breaking out from an ascending triangle trading pattern.

What Happens to Price Action After Rising Wedge Ascending Triangle Chart Pattern in XAUUSD?

The market formed an ascending triangle pattern during its upward trend which led to upside continuation as shown on the above example.

The buy signal is when price breaks out above the upper ascending triangle pattern line and the market continues moving upwards - up-ward market trend continuation.