Pattern Day Trading

Rising wedges are virtually always reversal patterns in an uptrend. Rising wedges represent the start of a more substantial reversal and can form into additional patterns, such as a rounding top. Hence, the targets after a breakout are limited. Volume is a necessary piece of information with the rising wedge is developing. Volume should be high on the …………

Continued From Part 1

5. Bull Pennant

Close to the bull flag, bullish pennants involve two important elements – 1. a near vertical, high volume short-term price jump, or flag pole, and 2. a symmetrical, lower-volume triangle-shaped consolidation. This consolidation, with price maneuvering toward a single equilibrium, has a corresponding price action and end implications…………….