Continuation or Reversal Pattern

sh50

Active Member
#1
I read that one should be vary when Ascending Trinagle appears at the end of a bullish cycle and Descending at the end of a bearish cycle. To spot this, one has to look at the weekly/monthly charts I suppose. I remember reading something like that about Head and Shoulders as well.

Is this true for all area patterns or only particular patterns. Traderji, kindly specify.
 

Traderji

Super Moderator
#2
sh50 said:
I read that one should be vary when Ascending Trinagle appears at the end of a bullish cycle and Descending at the end of a bearish cycle. To spot this, one has to look at the weekly/monthly charts I suppose. I remember reading something like that about Head and Shoulders as well.

Is this true for all area patterns or only particular patterns. Traderji, kindly specify.
You cannot generalise it this way.
 

sh50

Active Member
#3
Ok, lets be specific.

Triangles, wedges, head and shoulders, double and triple tops, divergences have both got their opposites.

Rectangles and Symmetrical triangles can go either way so one has to be careful anyway.

That leaves only Falgs and Penants. Only you can guide Traderji.
 

sudoku1

Well-Known Member
#4
Ok, lets be specific.

Triangles, wedges, head and shoulders, double and triple tops, divergences have both got their opposites.

Rectangles and Symmetrical triangles can go either way so one has to be careful anyway.

That leaves only Falgs and Penants.
just relying on patterns can b dangerous too !!!
one has 2 also keep a constant watch on moving averages as well !!;)
 

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