Chart Pattern.rtf

If it forms during a downtrend it could signal a

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~ if it forms during a downtrend, it could signal a continuation of the down move.
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~ height of price after breakup will almost the same as height of formation
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~ rising wedge after a downtrend ~ continue move down Falling wedge ~ revearsal pattern (form at downtrend) ~ continuation (form at uptrend)
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****************************************************************************** Rectangle Chart Pattern ~ price is bounded by parallel support and resistance levels. ~ show undecisive of buyer and seller ~ when the price break through the box, it will continue the trend ~ form after strong move
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~ price difference about same height with box ****************************************************************************** Pennant ~ after a strong move, usually take a breath before taking the pair to further direction, it will causes price to consolidate and form a symmetrical triangle
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~ buyer/seller will jump in and force it to break the pennant formation ****************************************************************************
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Symmetrical Traingle ~ it will confirm breakout from the triangle ~ so we can place order on both above and below the triangle ************************************************************************** Ascending Triangle ~ buyer cant exceed resistance level, but pushing the price higher (indicate by the higher low)
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~ the price most likely will move upward ~ but we should prepare for both direction, above resistance and below the slope of the line ****************************************************************************** 3 main type of chart ~ revearsal
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~ continuation ~ bilateral
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- take action at both direction - fake out occur if put the order too near
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