At the same time, your Stop Loss order should go above the second shoulder as shown on the chart. The cheat sheet below summarizes the candlestick patterns as they present themselves in FX trading. The bigger pink arrow measures the size of the Pole. However, they also allow for an advantageous risk to reward ratio, especially the larger structures that form on the daily chart.
Has a continuation signal and the next move would. Just remember that the Rising Wedge has bearish potential and the Falling Wedge has bullish potential, no matter what the previous trend. These are the formations that you can rely on to generate profits on a consistent basis. You need to hold a bearish trade until the price completes the size of the pattern in a bearish direction. Bullish Pennant, has a continuation signal and the next move would.
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