ShawnMCR

Continuation Chart Patterns - Let's Read

Education
BINANCE:BTCUSDT   Bitcoin / TetherUS
Hello guys,
Now that the market is pushing down and we all know what's about to happen, I thought let's not talk about the obvious analysis and learn something.
Today I decided to teach you guys about four famous chart patterns so that maybe you can cheat a little on how to play with this market.

I have set out 4 patterns for you:
1. Bullish Flag Pattern
2. Bearish Flag Pattern
3. Bullish Pennant Pattern
4. Bearish Pennant Pattern



Bullish Flag Pattern:
Bullish flag formations are found in stocks with strong uptrends and are considered good continuation patterns. They are called bull flags because the pattern resembles a flag on a pole. The pole is the result of a vertical rise in a stock and the flag results from a period of consolidation.

Bearish Flag Pattern:
The bearish flag is a candlestick chart pattern that signals the extension of the downtrend once the temporary pause is finished. As a continuation pattern, the bear flag helps sellers to push the price action further lower.

Bullish Pennant Pattern:
A bullish pennant is a technical trading pattern that indicates the impending continuation of a strong upward price move. They're formed when a market makes an extensive move higher, then pauses and consolidates between converging support and resistance lines.

Bearish Pennant Pattern:
A bearish pennant is a technical trading pattern that indicates the impending continuation of a downward price move. They're essentially the opposite to bullish pennants: instead of consolidating after a move up, the market pauses on a significant move down.


When to use these patterns?
Well, It's known that using tricks like this requires wide time ranges. For example, you can't get good results using 15-min charts on these patterns. I always try to use 4H charts to get the best results.

There are other patterns too, which are helpful but I'll get to them in the upcoming published charts.

Now let's talk...
Have you used these patterns? What are your experiences?
Any tricks you got in mind so that we can improve reading charts based on it?
Comment below!

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