This pattern shows a large gain, followed by a period of consolidation. It then breaks past the resistance line. The height of the new breakout should be similar to that of the opening move in the pattern.
Inverted Flag
This pattern shows a large drop, followed by a period of consolidation. It then breaks past the support line. The height of the new fall should be similar to that of the opening drop in the pattern.
Pennant Pattern
This is a variation of the Flag pattern except for the structure of the consolidation. In this case it is triangular. The breakout should also have large volume and the height of the new breakout should be similar to that of the opening move in the pattern.
Inverted Pennant Pattern
This is a variation of the Inverted Flag pattern except for the structure of the consolidation. In this case it is triangular. The downward breakout should also have large volume and the height of the downward breakout should be similar to that of the opening move in the pattern.
Bullish Breakout of a Symmetrical Triangle
This pattern is similar the pennant pattern except it does not have a "pole". This pattern is rather unreliable and there is real bias to the direction it may actually take. False breakout's in this case may also occur so look for large volume to accompany the breakout.
Bearish Breakout of a Symmetrical Triangle
This pattern is similar the inverted pennant pattern except it does not have a "pole". This pattern is rather unreliable and there is real bias to the direction it may actually take. False breakout's in this case may also occur so look for large volume to accompany the move..
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