Hi friends i'll share with you some price action patterns you should know . I don't like posting a picture with 100 patterns . I would like to post this in steps so that you can understand more and make things clear . 1- ascending triangle generally happens in an uptrend and is a bullish pattern , you can set your order after the breakout of the horizontal...
EURCHF is within a descending channel of an ascending channel... pretty confusing I know but have a look at the chart and you can see which way price will be heading. What we need to do now is find the best entry which is safe and clean. From the diagram in the chart, you can see that our entry will only be after the break of the descending channel and after a...
After quite a drop we're now seeing a ascending triangle formed. Since I find the 'textbook" ascending triangles not very clear (some say it is a continuation pattern, some say reversal) To start learning more about this pattern I'm going to publish it here so I can find it back later on. Give me some feedback about what you think this pattern would do after the...
The ascending wedge is a pattern in price action that has an uptrend with higher lows and higher highs, however the lines that connect the lows and the highs are tightening. This usually suggests that bull strength is running out, as every rally running toward the resistance is shorter lasting and moves less in terms of price action. Ascending wedges can break to...
GBPAUD formed an ascending triangle. We could see a horizontal upper line (that would be a resistance) and a lower uptrend line (that would be a support). Prices moves with equal highs, and lows higher than previous. Then after a few attempts, the prices finally break through resistance. The ascending triangle is a continuation pattern. Prices come from an...