Rectangles
Rectangle-bullish in an up trend
When market is flat, draw a line through the highs and a line through the low. Buy when the market closes above the straddle. Sometimes, there will be a bull trap and the market will break back into the rectangle and below the support line.
Rectangles- bearish in a downtrend
Sell when price breaks below support and closes below support.
Ascending Triangles
Ascending Triangles in an uptrend-bullish
A formation in which the slope of price high and the slope of price lows are converging to a point. The resistance line is parallel to the bottom edge of the chart while the support line is upward sloping. Place a buy order on a break up and out of triangles. However, if the pattern fails, sell when the market breaks out below the triangle.
Descending Triangles in a downtrend--bearish
The defining characteristic of descending triangles is the pattern of declining highs and a series of equal lows. This combination of points can be connected to form right angle triangle. The hypotenuse should be sloping from higher to lower and left to right. An illusory double bottom invites one last batch of weak hands to buy and just before a sharp break signals major selling. Sell when price breaks out and down. Descending triangles are amongst the most reliable off all technical pattern because both supply and demand are easily defined.
Symmetrical Triangles
Symmetrical Triangles in an up trend -bullish
A symmetrical triangles is a formation in which the slope of price highs and lows are converging to a point. Support and resistance are sloping. Symmetrical triangles are formed by rallies and sell-offs, each smaller than the last. As time moves on an even is imminent. The move will be explosive. Place a buy order on a brake up and out of triangles but the price could go in the opposite direction.
Symmetrical Triangles in adown trend -bearish
Place a sell order on a breakot below the triangle.
PS: To be Continue...Enjoy all.
Rectangles- bearish in a downtrend
Sell when price breaks below support and closes below support.
Ascending Triangles
Ascending Triangles in an uptrend-bullish
A formation in which the slope of price high and the slope of price lows are converging to a point. The resistance line is parallel to the bottom edge of the chart while the support line is upward sloping. Place a buy order on a break up and out of triangles. However, if the pattern fails, sell when the market breaks out below the triangle.
Descending Triangles in a downtrend--bearish
The defining characteristic of descending triangles is the pattern of declining highs and a series of equal lows. This combination of points can be connected to form right angle triangle. The hypotenuse should be sloping from higher to lower and left to right. An illusory double bottom invites one last batch of weak hands to buy and just before a sharp break signals major selling. Sell when price breaks out and down. Descending triangles are amongst the most reliable off all technical pattern because both supply and demand are easily defined.
Symmetrical Triangles
Symmetrical Triangles in an up trend -bullish
A symmetrical triangles is a formation in which the slope of price highs and lows are converging to a point. Support and resistance are sloping. Symmetrical triangles are formed by rallies and sell-offs, each smaller than the last. As time moves on an even is imminent. The move will be explosive. Place a buy order on a brake up and out of triangles but the price could go in the opposite direction.
Symmetrical Triangles in adown trend -bearish
Place a sell order on a breakot below the triangle.
PS: To be Continue...Enjoy all.
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