Article Ascending Triangle Understanding Ascending Triangle Trading Pattern Basics Introduction The ascending triangle is a bullish formation that usually forms during an uptrend as a continuation pattern. There are instances when ascending triangles form as reversal patterns at the end of a downtrend, but they are typically continuation patterns. Regardless of where they form, ascending triangles …
Article Symmetrical Triangle Understanding Symmetrical Triangle Trading Pattern Basics Introduction The symmetrical triangle, which can also be referred to as a coil, usually forms during a trend as a continuation pattern. The pattern contains at least two lower highs and two higher lows. When these points are connected, the lines converge as they are extended …
Article Flag and Pennant Understanding Flag and Pennant Trading Pattern Basics Introduction Flags and Pennants are short-term continuation patterns that mark a small consolidation before the previous move resumes. These patterns are usually preceded by a sharp advance or decline with heavy volume, and mark a midpoint of the move. Flag and Pennant Trading Strategy A …
Article Triple Top Reversal Understanding Triple Top Reversal Trading Pattern Basics Introduction The Triple Top Reversal is a bearish reversal pattern typically found on bar charts, line charts and candlestick charts. There are three equal highs followed by a break below support. As major reversal patterns, these patterns usually form over a 3 to 6 month …
Article Rising Wedge Understanding Rising Wedge Trading Pattern Basics Introduction The Rising Wedge is a bearish pattern that begins wide at the bottom and contracts as prices move higher and the trading range narrows. In contrast to symmetrical triangles, which have no definitive slope and no bullish or bearish bias, rising wedges definitely slope up and have a …