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Many novices often see these icon shapes but cannot understand its meaning.
When the icon breaks/falls below, you can think of it as trading on the right side.
1. Upward Channel Breakout: When the price breaks above a downward channel, it's a bullish sign.
2. Downward Rebound Resistance: If the price falls, bounces back, but repeatedly struggles at a high point, it's bearish.
3. Support and Resistance Swap: Confirm a trend change by observing a breakthrough and swap between support and resistance levels.
4. Ascending Channel Rejection: If an ascending channel is broken, and attempts to retrace are blocked, it suggests a continued fall.
5. Resistance Break or Multiple Tops: When a resistance level is consistently blocked or there are multiple tops, it signals bearish conditions.
6. Support Levels and Bottoms: Identifying simple support levels, multiple bottoms, or W-shaped bottoms indicates a bullish trend.
7. Three Points and One Line: Drawing a bullish trend line connecting three points is a key step before going long.
8. Triangle Breakout: Breaking through a triangle pattern on the right side is a bullish signal.
9. Double Test and Neckline Break: If a decline rebounds and tests twice, breaking a small-level neckline, it suggests a bearish trend.
10. Lower Highs and Lows: Indicate bearish structural changes and increasing strength for bears.
11. Rising Highs and Lows: Reflect a bullish trend in the making.
12. Swing Trading: The strategy of selling high and buying low within a specific price range.
In summary, these patterns apply to any trading level. For shorter time frames, consider taking profits every hour, for a more extended structure, adjust your strategy accordingly, such as taking profits every two hours, and so on.
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