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Pennant Flag Pattern: Super Ant

1) The document describes several common chart patterns including pennants, falling wedges, inverse head and shoulders, double tops and bottoms, and head and shoulders patterns. 2) It provides information on the characteristics of each pattern such as typical time frames for development, trends they form after or reverse, and importance of factors like volume. 3) Chart patterns can indicate continuation of existing trends or act as reversal signals, with details given on bullish or bearish implications of different types of patterns and their breakouts.

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ajekdur
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714 views

Pennant Flag Pattern: Super Ant

1) The document describes several common chart patterns including pennants, falling wedges, inverse head and shoulders, double tops and bottoms, and head and shoulders patterns. 2) It provides information on the characteristics of each pattern such as typical time frames for development, trends they form after or reverse, and importance of factors like volume. 3) Chart patterns can indicate continuation of existing trends or act as reversal signals, with details given on bullish or bearish implications of different types of patterns and their breakouts.

Uploaded by

ajekdur
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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Flag pattern

Pennant - continuation pattern


- continuation pattern - this is consolidation period
- 4 to 8 weeks to develop - formation of flag pointing down is bullish, pointing up is bearish
- from uptrend with strong volume - pole of flag can be the gauge of TP
- pole can be the gauge of how high your TP - consolidation period with low volume is normal

Falling wedge
- can be a reversal or continuation pattern
- 3 to 6 months to develop
- at least 2 higher low, good if many
- breakout must have good volume
- once breakout, it's normal to have pullback, resistance becomes support

Inverse head and shoulders


- form after downtrend
- neckline with uptrend slope is more bullish
- volume is important during breakout

Double top
- reversal from uptrend to downtrend
- previous form is uptrend
- 3 to 6 months to develop
- stagnation of price activity is visible
- next high doesn't have to be exact of the first high, (+/-) 3% is good

Head and shoulders


- sell signal Double bottom
- form after uptrend - reversal from downtrend to uptrend
- formation of head and shoulders can be confirmed with the volume - previous form is uptrend
- neckline of has is a form of 2 lower points - 3 to 6 months to develop
- neckline with down slope is more bearish move/ vice versa - stagnation of price activity is visible
- next low doesn't have to be exact of the first low, (+/-) 3% is good

SUPER ANT – https://www.facebook.com/superant9/


Descending Triangle Bearish -measured move
- bearish continuation signal - continuation or bearish move
- slope line is the resistance line, straight-line us the support line - 3 step process :downtrend, consolidation, downtrend
- at least two high points and low points - several months to develop
- during the breakdown previous support becomes resistance - counter trend/consolidation period can be flag, rectangle or symetrical
- low volume during consolidation triangle form
- high sell volume during breakdown - consolidation period before move higher

Cup with handle Bear price channel


- bullish pattern - bearish trend
- must have previous uptrend - forming lower lows
- start with rounded bottom (consolidation period) - slope/parallel line pointing down
- with two high points
- forming cup is 3 to 6 months to develop
- forming handle is weeks to develop

Ascending Triangle
- bullish pattern
- slope line is the support line, straight-line is the resistance line
Bullish -measured move - have at least 2 high points (resistance line)
- continuation of bullish move - making higher lows
- 3 step process : uptrend, consolidation, uptrend
- several months to develop
- counter trend/consolidation period can be flag, rectangle or symmetrical
triangle form
- consolidation period before move higher

Triple top reversal


- reversal from uptrend to downtrend
- 3 high points bouncing in the resistance
Bull price channel
- bullish trend
- forming higher highs
- slope/parallel lines pointing up
- volume is not important during formation

SUPER ANT – https://www.facebook.com/superant9/


Triple bottom reversal Rectangle chart pattern
- reversal from downtrend to uptrend - bullish or bearish
- 3 to 6 months to develop - weeks or months to develop
- 3 low points bouncing in the support - bouncing in support and resistance
- volume is important during breakout - high volume during breakout or breakdown

Symmetrical triangle
- continuation/ reversal pattern
- weeks or month to develop
- at least 2 higher lows
- low volume during consolidation is normal

Rounding bottom
- long-term reversal formation
- must have downtrend formation
- weekly timeframe is being used
- like inverse has without shoulders
- volume is important during breakout

Rising wedge
- reversal (bearish) or continuation pattern
- 3 to 6 months to develop
- at least 2 higher highs
- once breakdown, support becomes resistance

SUPER ANT – https://www.facebook.com/superant9/

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