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Chart Patterns V: Triple Tops and Bottoms |
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Written by Administrator
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Saturday, 13 September 2008 |
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A triple top is the same charting pattern as the double top with an
extra relative high that touches the same resistance level.
A triple
top creates a strong resistance level and a neckline connecting the two
relative lows in the middle of the pattern.
A trader should enter a
short position when the daily candle closes below the neckline of the
triple top.
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Read more...
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Chart Patterns VI: Saucers |
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Written by Administrator
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Saturday, 13 September 2008 |
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The Saucer Bottom is a very slow developing pattern that does not have
a clear entry point in most cases. It becomes the foundation for a long
term uptrend,
but it often gives no direct signal to buy.
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Chart Patterns VII: Triangles |
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Written by Administrator
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Saturday, 13 September 2008 |
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Continuation Patterns are patterns that exist within a trend at prices
where the market consolidates before moving on in the direction of the
original trend.
There are several main consolidation patterns, all of
which follow the same simple rules.
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Read more...
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Chart Patterns VIII: Descending and Ascending Triangles |
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Written by Administrator
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Saturday, 13 September 2008 |
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Descending Triangles
The descending triangle is a triangular consolidation zone that has
a hypotenuse sloping downward at the top of the triangle.
Beneath the
hypotenuse is a straight trend line.
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Read more...
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