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Determine the Triangle’s Symmetry Seek for a sequence of higher lows and lower highs that converge to the intersection of the upper and lower trend lines. This makes a triangular …
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Determine the Triangle’s Descending Pattern On the price chart, look for a sequence of lower highs that form the upper trendline and approximately equal or slightly lower lows that form …
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Determine the Triangle Ascending Pattern Look for a sequence of about similar highs (creating a horizontal resistance line) and higher lows (showing buying pressure). On the chart, this takes the …
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To recognise the rectangle pattern look for a period of price consolidation during which the horizontal lines that represent the highs and lows are roughly parallel. This creates the pattern …
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Find the Wedge Pattern Examine your forex chart for any wedge patterns. Converging trendlines with higher highs and lower lows are indicative of a rising wedge; conversely, converging trendlines with …
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How to Spot a Pennant Pattern Following a significant price move, a continuation pattern known as a Pennant pattern appears. It appears like a small symmetrical triangle that forms after …
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Determine the Flag Pattern A steep price movement (the flagpole) is followed by a consolidation (the flag) in the opposite direction of the initial move to establish the flag pattern. …
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reaffirm the pattern of the cup and handle There are two components to the Cup and Handle pattern: Cup This is a rounded bottom shape that resembles a cup or …
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Equivalent Triangles Lower highs and higher lows are produced when the price consolidates into a narrowing range, forming symmetrical triangles. This pattern implies that the market is still determining where …
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Finding the Double Bottom Pattern Examine the price chart for two successive, almost equal troughs (low points) that form a “W” shape. Price should drop to a support level, rise …
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