Hi, friends! Let's keep learning?๐
Today we are talking about <<Trend Continuation Patterns>> and <<Reversal Patterns>> of Technical Analysis ๐
- this girls try to tell You more details๐
Hope, It would be helpful for Youโฅ๏ธ
๐Bull flag๐
The principle of bullish flag trading, like all technical analysis figures, is the same - a breakout of the control point is required. As soon as a breakdown has occurred, you can immediately post the target. The target in a bull flag will be the height of the pole.
There is one more feature of this figure - the canvas of the flag should be tilted against the main trend.
๐ปBear flag๐ป
For the most profitable entry, it is better to enter into a deal with a pending order. As soon as the trade is entered, the take profit is placed at the height of the pole from the breakout point of the pattern.
๐Bullish pennant๐
The pattern trading rules are identical to the bull flag trading rules.
๐ปBearish pennant๐ป
The trading rules are the same as for the bear flag .
๐ฅHead & Shoulders Pattern๐ฅ
After the pattern has become clearly visible, namely, the right shoulder is clearly visible, the trader needs to wait for the neckline breakout. Breakouts occur on strong impulses with a sharp increase in volume . Therefore, in order not to miss the entry and enter at the best price, it's better to use a sell stop order.
To calculate where the price will go after the breakout of the pattern, it is enough to measure the height of the pattern (vertical from the maximum of the head to the neckline) and postpone it to the breakout point.
๐ฅInverted Head & Shoulders Pattern๐ฅ
An inverted head and shoulders pattern occurs in a downtrend and heralds an uptrend. The rules for working on a figure are similar to the previous ones.
It is worth noting that the head and shoulders pattern is rarely encountered in its pure form. Be careful!
๐ฅ Double Bottom Pattern ๐ฅ
After you have identified the pattern on the price chart, you need to wait for the breakout of its resistance line. If the price has broken through the resistance, then the target will be the width of the pattern's range - the distance from the lowest point to the resistance.
๐ฅDouble Top Pattern ๐ฅ
A double top is similar to a double bottom . The only difference is that this pattern is reversed and occurs on uptrends.
The number of extrema in a pattern can be not only double, but also triple, and even more. But the rules of work will be identical for everyone - enter on a breakout, postpone the target to the height of the figure and wait for its execution.
๐ฅDiamond๐ฅ
We measure the height and wait for the breakdown of the diamond. If a breakout has occurred, then the price movement target will be the height of the pattern from the breakout point.
๐ฅCup & Handle๐ฅ
Trades are opened on the breakdown of the "handle" upwards. Target is the height of the figure.
Thanks for Your attention๐๐ป
Stay in touch๐งก
Sincerely yours Rocket Bomb๐๐ฃ
Today we are talking about <<Trend Continuation Patterns>> and <<Reversal Patterns>> of Technical Analysis ๐
- this girls try to tell You more details๐
Hope, It would be helpful for Youโฅ๏ธ
๐Bull flag๐
The principle of bullish flag trading, like all technical analysis figures, is the same - a breakout of the control point is required. As soon as a breakdown has occurred, you can immediately post the target. The target in a bull flag will be the height of the pole.
There is one more feature of this figure - the canvas of the flag should be tilted against the main trend.
๐ปBear flag๐ป
For the most profitable entry, it is better to enter into a deal with a pending order. As soon as the trade is entered, the take profit is placed at the height of the pole from the breakout point of the pattern.
๐Bullish pennant๐
The pattern trading rules are identical to the bull flag trading rules.
๐ปBearish pennant๐ป
The trading rules are the same as for the bear flag .
๐ฅHead & Shoulders Pattern๐ฅ
After the pattern has become clearly visible, namely, the right shoulder is clearly visible, the trader needs to wait for the neckline breakout. Breakouts occur on strong impulses with a sharp increase in volume . Therefore, in order not to miss the entry and enter at the best price, it's better to use a sell stop order.
To calculate where the price will go after the breakout of the pattern, it is enough to measure the height of the pattern (vertical from the maximum of the head to the neckline) and postpone it to the breakout point.
๐ฅInverted Head & Shoulders Pattern๐ฅ
An inverted head and shoulders pattern occurs in a downtrend and heralds an uptrend. The rules for working on a figure are similar to the previous ones.
It is worth noting that the head and shoulders pattern is rarely encountered in its pure form. Be careful!
๐ฅ Double Bottom Pattern ๐ฅ
After you have identified the pattern on the price chart, you need to wait for the breakout of its resistance line. If the price has broken through the resistance, then the target will be the width of the pattern's range - the distance from the lowest point to the resistance.
๐ฅDouble Top Pattern ๐ฅ
A double top is similar to a double bottom . The only difference is that this pattern is reversed and occurs on uptrends.
The number of extrema in a pattern can be not only double, but also triple, and even more. But the rules of work will be identical for everyone - enter on a breakout, postpone the target to the height of the figure and wait for its execution.
๐ฅDiamond๐ฅ
We measure the height and wait for the breakdown of the diamond. If a breakout has occurred, then the price movement target will be the height of the pattern from the breakout point.
๐ฅCup & Handle๐ฅ
Trades are opened on the breakdown of the "handle" upwards. Target is the height of the figure.
Thanks for Your attention๐๐ป
Stay in touch๐งก
Sincerely yours Rocket Bomb๐๐ฃ
Write me if You need my support or wanna trade together ๐๐ป
Join me in๐๐ป:
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Join me in๐๐ป:
๐๐ฃ t.me/+aAADzO1OqsQ2MGI0
๐ฐ I'm using Bybit and I highly recommend it to You. By using my link - You'll get a nice bonus
www.bybit.com/invite?ref=7X0W2A