Continuation Pattern
● Rising Wedge Pattern
1.The Rising Wedge pattern is a downward trend pattern.
2.This means that as the number of buyers decreases, a pattern is created, and as the price rises, a short candle is formed. As the buying volume decreases, the price may turn into a downward trend as there are no buyers.
● Falling Wedge Pattern
1.A falling wedge generally occurs when a falling price reverses upward as selling pressure decreases.
2.The highs and lows of the price are lowered, the lows of the RSI are higher, a general upward divergence occurs, and the trading volume also converges, and when it breaks through the upper line of the pooling wedge, the trading volume tends to increase.
● Ascending triangle pattern
1.A pattern in which the price gradually rises and converges while maintaining an upward trend, although it cannot rise above the base of a right triangle, but is on the hypotenuse (characteristically, the trading volume decreases as convergence occurs)
2.As the trading volume continues to decrease as the pattern ends, it indicates that the price-leading forces are ending their accumulation of positions. (Do not view this from a buying perspective as the position does not exist solely on the buying side.)
Characteristics: When the base of a right triangle, which was a strong resistance position, breaks upward due to a strong buying force, it changes into a strong support position.
If the hypotenuse of a right triangle, which was a strong support position, breaks downward due to strong selling, it turns into a strong resistance position.
● Descending triangle pattern
1.It is a representative trend continuation pattern.
2.A descending triangle is a form that is formed by not going below the base of the tectonic triangle and receiving support, but failing to break through the downward trend (resistance), which is the upper side of the right triangle.
Characteristics: When the base of a right triangle, which was a strong support position, breaks upward due to a strong buying force, it changes into a strong resistance position.
If the wet side of a right triangle, which was a strong resistance position, breaks upward due to a strong buying force, it turns into a strong support position.