Today 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".
Or else "cup with handle. U-shape + corrective movement (" handle ") within 1/3 of the" cup....
This Bullish log chart for BTC shows a clear cup and handle
Yet these could be acting as a quasi-bullflag, flagpole at the same time.
Both experience an upward move initially (cup, flag-pole) and further consolidation period (handle, bullflag)
Both are bullish but experience a similar development as bullish tools. That will always continue to form over time.
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Psychology of Cup and Handle Pattern:
The psychology of the cup and handle pattern is as follows: The "U" part of the cup is where prices slowly fall, this wears out speculators. This is usually illustrated be a decrease in volume on the left side of the cup. Once prices reach a level...
Cup and Handle Chart Pattern
The cup and handle chart pattern is a bullish continuation pattern that marks a consolidation period followed by a breakout. It can help to predict future price movements.
A cup and handle chart pattern is comprised of three main components:
-A prior trend, as to qualify as a continuation pattern it has to have a prior trend
A cup and handle price pattern on a security's price chart is a technical indicator that resembles a cup with a handle, where the cup is in the shape of a "u" and the handle has a slight downward drift. The cup and handle is considered a bullish signal, with the right-hand side of the pattern typically experiencing lower trading volume.