It is created by price moves that allow for a horizontal line to be drawn along the swing highs and a rising trendline to be drawn along the swing lows. The two lines form a triangle. Traders often watch for breakouts from triangle patterns.
Ascending triangles are continuation patterns since price will typically break out in the same direction as the trend that was in place just prior to the triangle forming.
Tip for trade: Regardless of where they form, ascending triangles are bullish patterns that indicate accumulation/meaning during which volume should decreasing and at the time of breakout volume should increase strong to confirm price action.