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Different Chart Patterns for Trend AnalysisLet's look at different chart patterns which help the traders to analyze the market. Chart patterns are a way of viewing a series of price actions that occur during a trading period. It can be over any time frame – monthly, weekly, daily, and intra-day. The great thing about chart patterns is that they tend to repeat themselves over and over again. Let's look at a few of these. ➡️ Ascending Triangle is a bullish continuation pattern. It is also called a 'rising triangle'. It is formed by a rising lower trendline and a flat upper trendline that acts as support. This pattern indicates that the buyers are more aggressive than the sellers as the price continues to make higher lows. This pattern completes itself when price breaks out of the triangle in the direction of the overall trend. ➡️ Inverse Head & Shoulder is a similar pattern to the head & shoulder pattern, just inverted. This pattern generally indicates a bullish trend movement. This pattern is a trend reversal chart pattern. This pattern makes three peaks, the two outside peaks are about the same height, and the middle one is the lowest. It is a reversal pattern, from bearish to bullish. This pattern is comprised of three parts: After long bearish trends, the price falls to a trough and then rises to make a peak. Again, the price falls to form a second trough below the previous low and increases again. The price falls for the third time, but only to the level of the first trough, before rising once more and reversing the trend. ➡️ Falling Wedge is created when a market consolidates between two converging support and resistance lines. A falling wedge is considered a bullish pattern. This price action forms a cone that slopes down as the highs and lows converge. This pattern is widest at the top and becomes narrower as it moves downward. It leads to tighter price action. If the falling wedge shows up in a downtrend, it is seen as a reversal pattern. ➡️ Triple Top is a bearish pattern. It is formed when the price makes three similar highs and then rejects to make a downtrend. The formation of this pattern is completed when the prices move back to the support line after forming the third peak. ➡️ Head & Shoulder formation consists of a left shoulder, a head, and a right shoulder and a line drawn as the neckline. Volume is highest and often expands on the left shoulder as the uptrend continues and more and more investors want to get in, whereas it is lowest on the right shoulder as investors sense a trend reversal. This low volume is often considered a strong sign of reversal. ➡️ Rising Wedge is formed when the market begins making higher highs and higher lows. All of the highs must be in-line so that they can be connected by a trend line. The rising wedge is a bearish pattern. This chart pattern has a wide trading range at the bottom and contracts to a smaller trading range as prices trend up. The rising wedge pattern signals a possible selling opportunity either after an uptrend or during an existing downtrend. The entry (sell order) is placed either when the price breaks below the bottom side of the wedge or the price finds resistance at the lower trend line. ➡️ Bullish Rectangle pattern is formed during an uptrend, defining the horizontal levels of support and resistance. The price keeps moving between the support and resistance lines. It maintains its highs and lows forming a trading range making a kind of a rectangle. These support and resistance lines should be parallel to each other. It is always advised to wait for a breakout confirmation on the resistance level to take a trade setup. ➡️ Bullish Pennant occurs just after a sharp rise in price and resembles a triangular flag as the price moves sideways, making gradually lower highs and higher lows. The uptrend then continues with another similar-sized rise in price. A bullish pennant has a pole that is created when the price experiences a sharp rise and then a pennant attached to the pole. The price when breaks the flag, signals a continuation of an uptrend. ➡️ Triple Bottom signals a bullish reversal pattern. This pattern consists of three equal lows followed by a breakout above resistance. The three bottoms should be nearly equal in size and have sufficient space between them. The confirmation for this pattern is a close above the upper trendline with above-average volume. Traders should treat the triple bottom pattern as a neutral pattern until the breakout is confirmed. Once the upper resistance level is broken with a sharp increase in volume, the momentum will likely carry the price action higher. Thanks for reading, and let us know what do you think about these chart patterns in the comment box below. Happy Trading
Education
by Tuned_Official
NNOX, Ready for Round #4?I think Nanox has been heavily shortened on FDA news, which isn't surprising knowing the market's tricks. That said, it is accumulating and has been around the $33 price point for the past few days. I think now is the time where for the next few weeks, support levels can start picking up. It does have potential for a next wave bull run at these levels, and a real short squeeze is yet to happen in my opinion. That said, everything I say is on an opinion based basis. Invest at your own risk and do your own due diligence.
NASDAQ:NNOXLong
by gamer456148
2
Time for the Interest Rates Shock to go Away!People were shocked about interest rates, and I get it. I too was shocked and not happy with what was going on. However, for a week that was a bit on the redder side for the market, I hope instead of panic selling, everybody bought dips or took advantage of the swings. Whenever you have a high growth stock in the red during a red day, panicking is usually the worst you can do. That said, invest at your own risk. Do your own due diligence. Everything I say is on an opinion based basis.
NASDAQ:NDAQLong
by gamer456148
1
Is Elon Musk Playing 4-Dimensional Chess w/ BitcoinDoes anybody remember when Elon Musk tweeted, "Tesla stock price is too high, IMO", right before the continuation of one of the biggest historical rallies for a stock? I believe now may be the same case. If you are able to break certain resistance curves with financial assets, then once support quickly adds back towards the smaller dips, it can continue way past its previous price and have barely any resistance. I'm not saying this is what Elon Musk is trying to do, but if he is playing some sort of multidimensional chess game, who can blame him? That said, please do your own due diligence and invest at your own risk. Everything I say is on an opinion based basis.
BLong
by gamer456148
3
I am upgrading my $NNOX Target from $115 to $200+I seen what happened at $95, the FDA response, and how people responded to lockup expiration + the secondary offering. People reacted quickly, things got tense, and now the storm will soon calm. The point is, it very recently hit a new high, and a new high will happen likely really soon. Once $115 passes, my new target is $200. I believe this is feasible if single source FDA approval is within a timely manner. They also have factories and deployments. I am looking constantly at institutional activity, and that is what excites me the most trend-wise. That said, please invest at your own risk and do your own due diligence. Everything I say is on an opinion based basis.
NASDAQ:NNOXLong
by gamer456148
A Buy and Forget? YJI decided to just get Yunjji at a 22% price premium, for various reasons: 1) They have a large membership, and are relatively small for a trending space for investors. 2) Look at the $BABA and $JMIA play. 3) Market cap is only $595.55M, which is relatively small. Anyways, I took a small position in it as I'm cautious, but definitely on the watchlist. That said, do your own due diligence and invest at your own risk. Everything I say is on an opinion based basis.
NASDAQ:YJLong
by gamer456148
Wait Until the $15+ Wave: Reiterating LongAgain, I think this is one of the more decent speculative plays or dip opportunities for a swing out there. Shorts are soon going to need to likely cover, you have an RSI less than 30, and people are overreacting to the clinical data and news headlines. The support level just needs to pickup for a really good squeeze. PR could come like a hammer for overly anxious bears. That said, please invest at your own risk and do your own due diligence. Everything I say is on an opinion based basis.
NASDAQ:VXRTLong
by gamer456148