CONTINUATION BEARISH PATTERNS
Bearflag:is a sharp,strong volume decline,several days of sideways to higher price action on much weaker volume followed by a second huge decline with a strong volume.Target is a NEW LOW
Target: for a bearflag pattern is derived by height of the flag pole(ex if this height is 5%) the decline target for breakdown will be 5%
Bearish Pennant:this pattern is bearish in nature and indicates that the current downtrend in price may continue.This pennant it s appear after a drop in price which will looks like a triangular flag as the price moves sideways .This slowly makes lower highs and higher lows which will confirm the bearish price action
The downtrend continues with another identical-sized fall in price so here we have an oportunity for short trade
Rising wedge:is a bearish pattern that begins wide at the bottom and contracts as prices move higher and the trading range narrows.In Contrast to symmetrical triangle which have no definitive slope and no bullish or bearish bias rising wedges definitely slop up and have a bearish bias(in the final is a breakdown from this wedge)
If we put this pattern at the continuation category the rising wedge will still slope up but the slope will be against the prevailing downtrend.
The final break of support indicates that the forces of supply have finally won out and lower prices are likely.There are no measuring techniques to estimate the decline.
Target: for a bearflag pattern is derived by height of the flag pole(ex if this height is 5%) the decline target for breakdown will be 5%
Bearish Pennant:this pattern is bearish in nature and indicates that the current downtrend in price may continue.This pennant it s appear after a drop in price which will looks like a triangular flag as the price moves sideways .This slowly makes lower highs and higher lows which will confirm the bearish price action
The downtrend continues with another identical-sized fall in price so here we have an oportunity for short trade
Rising wedge:is a bearish pattern that begins wide at the bottom and contracts as prices move higher and the trading range narrows.In Contrast to symmetrical triangle which have no definitive slope and no bullish or bearish bias rising wedges definitely slop up and have a bearish bias(in the final is a breakdown from this wedge)
If we put this pattern at the continuation category the rising wedge will still slope up but the slope will be against the prevailing downtrend.
The final break of support indicates that the forces of supply have finally won out and lower prices are likely.There are no measuring techniques to estimate the decline.
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