Diamond
Bullish Diamond BreakoutWe just broke the previous high and broke out of a Diamond in the process; Lets see if we can hit some measured moves.
Interesting Price action an Unknown Asset.I was just scrolling through my saved charts and came across this asset i had never heard of before, but the price action looked interesting and i wanted to chart it for fun. Lets see how it plays out. SL above the red shaded at $10.20 area and Take profit around $9
Ascending Triangle With Diamond Breakout.We could see an attempt to break above an ascending triangle from here which could result in an ABC movement towards $1500 as this looks like it could be somewhat of a Bull Flag.
Bullish patterns in tradingToday there are several popular bullish patterns on the Forex market.
1. Flag - trend continuation.
Has a strong price movement (flag staff), then a correction zone (flag cloth). The correction zone can be located both horizontally and inclined to the "shaft".
2. Cup
Or else "cup with handle. U-shape + corrective movement (" handle ") within 1/3 of the" cup. "Formation of the" handle "is the process of price consolidation towards the line.
After the pattern is formed, the price continues to move in the direction of the cup.
3. Symmetric triangle
It can be either a reversal or a continuing trend.
Formed between two converging support and resistance lines. You can start trading after the breakout of the pattern (depending on the breakout, either buy or sell).
4. Diamond
Reversal pattern formed at local highs and lows of the price chart. The basis is either an uptrend or a downtrend. Completion options - correction or global trend reversal.
5. Double bottom.
It is based on a downward movement + two chart lows and a high point between them. Completes the formation after breaking through the base line. Further - the price growth from the base line in the volume of the figure size.
6. Pennant
Continuation of the main trend. Price gaps are possible prior to the formation of the pattern. In a bullish scenario, the pattern is preceded by an uptrend. Completion of the pattern formation - a breakout in the direction of the previous trend.
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