📈 4 Common Bullish Patterns🟢 RISING THREE
"Rising three methods" is a bullish continuation candlestick pattern that occurs in an uptrend and whose conclusion sees a resumption of that trend.
This can be contrasted with a falling three method. The first bar of the pattern is a bullish candlestick with a large real body within a well-defined uptrend.
🟢 FALLING WEDGE
The falling wedge pattern occurs when the asset’s price is moving in an overall bullish trend before the price action corrects lower.
Within this pull back, two converging trend lines are drawn. The consolidation part ends when the price action bursts through the upper trend line, or wedge’s resistance.
🟢 BULL PENNANT
A pennant is a type of continuation pattern formed when there is a large movement in a security, known as the flagpole, followed by a consolidation period with converging trend line.
Pennants, which are similar to flags in terms of structure, have converging trend lines during their consolidation period and last from one to three weeks.
🟢 ASCENDING TRIANGLE
An ascending triangle is a chart pattern used in technical analysis. It is created by price moves that allow for a horizontal line
to be drawn along the swing highs and a rising trendline to be drawn along the swing lows. The two lines form a triangle.
Traders often watch for breakouts from triangle patterns. The breakout can occur to the upside or downside
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Risingthreemethod
Massive for Bitcoin!Hey guys!
As you can see on the Daily Chart of Bitcoin (BTC). There has been Falling Three Method patterns
Now, what is a Falling Three Method?
Falling Three Methods is a five-candle bearish pattern that signifies a continuation of an existing downtrend. The first candle is long and red, followed by short green candles with bodies inside the range of the first candle. The last candle is also red and long and it closes below the close of the first candle. The decisive fifth strong bearish candle hints that bulls could not reverse the prior downtrend and that bears have regained control of the market (Tradingview's Definition).
Dubious speculation shows that there are 25 more days left of this downtrend.
Hope this helps!
Safe trading,
NTPC IS MAKING RISING THREE METHODS The Stock is currently on the way of making a Rising Three Methods Pattern on Monthly Chart, if the Stock Price Closes above 144.2 this month.
It is a Bullish Continuation pattern, can be hold for couple of months if formed.
I am learning, any critics or comments are welcome.
Happy Investing :)
Steem Weekly There is possibility which will be clear at the end of the week that pair on weekly chart will create very interesting candlestick formation which is called rising three pattern. It will not be exact as the perfect one but if you consider nature of cryptoccurency(extreme movements in short period of time) I think it is justified to use it as suggestion for continuation of trend.
Rising three pattern is used to confirm trend and looks like this that there is big bullish candle which is followed but 3 small bearish candles and then there is 4th candle which is also big and body should be closed above the body of the previous big bullish candle.
Second important signal is Fibonacci 23.6% retracement. This is as much important as the 78.6% and it is very goo indication of trend reversal.(in our case from bearish to bullish)
Let observe what level the weekly candle will close. The perfect closing level would be 2k +
For TP area I would go for 161.80% combined with round number which is 5k or the one from my previous chart linked below.
…..I will post 4h detailed idea also.
Gold Stays Bound within Monday's RangeGold closed down 2 points on Wednesday, once again finding support at the confluence of moving averages and the inner Bollinger Band. While not moving lower than support, price stayed contained within Monday's candle and is setting up for a potential 'Rising Three Methods' pattern. This pattern starts with a long green body that is followed by three small body days, each fully contained within the range of the high and low of the first day. Then the fifth day closes at a new high. If this plays out, then Friday would be the day for price to hit the outer Bollinger Band which is now at 1267.30.
While the indicators are still green, the Heikin-Ashi candles are showing a potential end of the up move which you can see on the chart above. Certainly the Heikin-Ashi doji on Wednesday is not inspiring a lot of confidence for the bulls.
I recommend protecting your profits and tightening stops.
Disclaimer: This post is for educational purposes only. Trading is at your own risk.
