PRICE HAVE REACHED THE RESISTANCE ZONE, LONG OPPORTUNITY ON FB ENTRY PRICE 175.10 TAKE PROFIT ON 183.90 GOOD LUCK
The equidistant channel has become one of my favorite technical patterns to trade. It’s formed by two parallel levels of support and resistance. The equidistant channel can be bullish (ascending) or bearish (descending) depending on the direction of the trending price action. The equidistant channel is formed when price action finds support and resistance between...
The pattern contains at least two lower highs and two higher lows. When these points are connected, the lines converge as they are extended and the symmetrical triangle takes shape. The future direction of the breakout can only be determined after the break has occurred. Even though a continuation pattern is supposed to breakout in the direction of the long-term...
As long as prices decline trade within the channel,Channels are a form of technical analysis where prices travel in a trend( bearish in this case )between two parallel lines, ALWAYS remember that both lines need to be parallel to each other.
The Falling Wedge is a bullish pattern that begins wide at the top and contracts as prices move lower. This price action forms a cone that slopes down as the reaction highs and reaction lows converge.
the oscillator is bound between 0 and 100, overbought is considered above the 80 level. On the other hand, oversold is considered below the 20 level. Therefore, cross downs that occur above 80 would indicate a potential shifting trend lower from overbought levels. Likewise, a cross up that occurs below 20 would indicate a potential shifting trend higher from...
SIMMETRICAL CHART PATTERN: creates higher high swing bottoms and lower low swing tops, which forms a pattern, which looks like a triangle. The bottom of the triangle is an up sloping support trend line and the top is down sloping resistance trend line.
As you can see we have strong supports at the points 2,5 and 4 ,1 then looking at the resistance we have a strong resistance at the points 1,3
The symmetrical triangle is mainly considered to be a continuation pattern that signals a period of consolidation in a trend,The pattern is complete when the price breaks out of the triangle,l ook for an increase in volume in the direction of the breakout. good luck
The benefit of the SMA indicator is its visual simplicity. Traders can quickly assess the prevailing trend of price behavior from the direction of the SMA.
Example of a double top .this pattern has two peaks (A,C), at about the same level , the pattern is complete at the point B is broken on a closing basis. the minimum measuring target is the height of the top projected downward from the breakdown point.
head and shoulder occurs when a market trend is in a process of reversal . Left shoulder: Price rise followed by a left price peak, followed by a decline. Head: Price rise again forming a higher peak. Right shoulder: A decline occurs once again, followed by a rise forming the right peak which is lower than the head.
Downtrends are based on lower highs and lower lows in this trend analysis as it is shown in this chart you can clearly the price dropping from may to early august from highers peaks to lower peaks.