EDUCATION:COMMON CHART PATTERNS AND THEIR BREAKOUT FORMATION.
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In this post, we will discuss the formation of breakout point in some basic patterns.
(1,2)-These kinds of pattern formations are common in either bullish/bearish, the signal forms bump to reverse the trend.
I.e A pullback/throwback will happen in the previous trend to reverse the trend.
Wait for the broke out to decide the trade(buy/sell).
3.FALLING WEDGE.
Commonly, this pattern used to form in the bullish trend.
The signal will form the breakout setup at the narrow edge of the trend. wait for the break out confirmation to buy signals.
4. RAISING WEDGE.
This pattern similar to the falling wedge, but it used to form in the bearish trend. Identically the broke out setup will arise at the narrow edge of the trend. SELL the signals on the break out confirmation.
5. ASCENDING BROADENING WEDGE.
Ascending broadening wedge pattern appears with triangle and narrow edges in the bullish trend, Most of the points contacted the resistance and support. Sell the signals on the breakout confirmation.
6.DESCENDING BROADENING WEDGE
Moreover, it's similar to the ascending broadening wedge pattern, but it appears in the bearish trend. the trend reversal will happen in the support area.
Buy signals on the break out confirmation point.
(1,2)-These kinds of pattern formations are common in either bullish/bearish, the signal forms bump to reverse the trend.
I.e A pullback/throwback will happen in the previous trend to reverse the trend.
Wait for the broke out to decide the trade(buy/sell).
3.FALLING WEDGE.
Commonly, this pattern used to form in the bullish trend.
The signal will form the breakout setup at the narrow edge of the trend. wait for the break out confirmation to buy signals.
4. RAISING WEDGE.
This pattern similar to the falling wedge, but it used to form in the bearish trend. Identically the broke out setup will arise at the narrow edge of the trend. SELL the signals on the break out confirmation.
5. ASCENDING BROADENING WEDGE.
Ascending broadening wedge pattern appears with triangle and narrow edges in the bullish trend, Most of the points contacted the resistance and support. Sell the signals on the breakout confirmation.
6.DESCENDING BROADENING WEDGE
Moreover, it's similar to the ascending broadening wedge pattern, but it appears in the bearish trend. the trend reversal will happen in the support area.
Buy signals on the break out confirmation point.
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Theory always differs from practical. I hope these live chart examples will help you to learn more.1.Bullish Bump and run.
2.Bearish Bump and run.
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3. FALLING WEDGE. The signal will form the breakout setup at the narrow edge of the trend. wait for the break out confirmation to buy signals.
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4. RAISING WEDGE.This pattern similar to the falling wedge, but it used to form in the bearish trend. Identically the broke out setup will arise at the narrow edge of the trend. SELL the signals on the break out confirmation.
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5. ASCENDING BROADENING WEDGE.Ascending broadening wedge pattern appears with triangle and narrow edges in the bullish trend, Most of the points contacted the resistance and support. Sell the signals on the breakout confirmation.
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6. DESCENDING BROADENING WEDGE.Moreover, it's similar to the ascending broadening wedge pattern, but it appears in the bearish trend. the trend reversal will happen in the support area.
Buy signals on the break out confirmation point.
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