.A key concept of technical analysis is that when a resistance or support level is broken, its role is reversed. If the price falls below a support level, that level will become resistance. If the price rises above a resistance level, it will often become support.
A symmetrical triangle chart pattern primarily symbolizes a volatility contraction in the market. In other words, the market’s volatility is slowly shrinking and may soon breakout or breakdown. This pattern is observed when a share’s price is consolidating in a manner that generates two converging trend lines with closely aligned slopes. This chart pattern itself...
the descending triangle is formed in the downtrend and indicates the continuation of the downtrend.
It is formed as a downward sloping triangle with support and a slope of lower highs.
The support does not allow the prices of the securities to move more downward.
The lower highs show that the selling pressure has increased.
This pattern clearly indicates that...
It can be complex identifying a bull flag on a chart because the pattern entails several different components. Traders will need to correctly identify and understand these components to trade this pattern successfully. Key things to look out for when trading the bull flag pattern are:
Preceding uptrend (flag pole)
Identify downward sloping consolidation (bull...