ð 4 Common Bullish Patterns
ðĒ RISING THREE
"Rising three methods" is a bullish continuation candlestick pattern that occurs in an uptrend and whose conclusion sees a resumption of that trend.
This can be contrasted with a falling three method. The first bar of the pattern is a bullish candlestick with a large real body within a well-defined uptrend.
ðĒ FALLING WEDGE
The falling wedge pattern occurs when the assetâs price is moving in an overall bullish trend before the price action corrects lower.
Within this pull back, two converging trend lines are drawn. The consolidation part ends when the price action bursts through the upper trend line, or wedgeâs resistance.
ðĒ BULL PENNANT
A pennant is a type of continuation pattern formed when there is a large movement in a security, known as the flagpole, followed by a consolidation period with converging trend line.
Pennants, which are similar to flags in terms of structure, have converging trend lines during their consolidation period and last from one to three weeks.
ðĒ ASCENDING TRIANGLE
An ascending triangle is a chart pattern used in technical analysis. 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. The breakout can occur to the upside or downside
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ð Daily Ideas about market update, psychology & indicators
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"Rising three methods" is a bullish continuation candlestick pattern that occurs in an uptrend and whose conclusion sees a resumption of that trend.
This can be contrasted with a falling three method. The first bar of the pattern is a bullish candlestick with a large real body within a well-defined uptrend.
ðĒ FALLING WEDGE
The falling wedge pattern occurs when the assetâs price is moving in an overall bullish trend before the price action corrects lower.
Within this pull back, two converging trend lines are drawn. The consolidation part ends when the price action bursts through the upper trend line, or wedgeâs resistance.
ðĒ BULL PENNANT
A pennant is a type of continuation pattern formed when there is a large movement in a security, known as the flagpole, followed by a consolidation period with converging trend line.
Pennants, which are similar to flags in terms of structure, have converging trend lines during their consolidation period and last from one to three weeks.
ðĒ ASCENDING TRIANGLE
An ascending triangle is a chart pattern used in technical analysis. 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. The breakout can occur to the upside or downside
ðĪ @AlgoBuddy
ð Daily Ideas about market update, psychology & indicators
âĪïļ If you appreciate our work , Please like, comment and follow âĪïļ
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