Candlestick Chart : Pattern - Part-02

Ascending Triangle:

You will normally find the triangle appears during an upward trend and is regarded as a continuation pattern. Less often it is created in response to a reversal at the end of a downward trend. Whenever they do occur, ascending triangles are bullish patterns (when the small black candlestick is followed by a big white candlestick that totally engulfs the previous candlestick).

 

Descending Triangle:

Although often a bearish pattern, the descending triangle is a continuation of a downtrend. Less frequently it can be observed as a reversal during an upward trend.