Some website and books refer ascending triangle to bullish pattern and descending triangle to bearish pattern. The following description is posted on a website:
- Ascending Triangle – Regardless of where they form, ascending triangles are bullish patterns that indicate accumulation.
- Descending Triangle – Regardless of where they form, descending triangles are bearish patterns that indicate distribution.
However, I have encountered these triangles may possess double meaning for KLSE stocks. Attached are the success and fail examples for these triangles: