No rising wedges noted.
The upper trendline of the flag represents R
There are gaps below price
Gaps do not always fill, but the last one could be an exhaustion gap and these are more likely to fill
The lower one is what I think of as a take off or a break away gap. These are less likely to fill or could take a long time to fill. If the market or this stock has a major downturn, then support can lurk here
Pattern only valid at long entry level.
Just an observation
Breakaway gap
The breakaway gap describes a gap in price that gaps over a support or a resistance level.
The breakaway gap, thus, shows a trend continuation signal most of the time.
Exhaustion gap
The exhaustion gap usually happens during a trending period and can signal a reversal. Price makes one final gap in the direction of the trend and then reverses.
Continuation gap
Continuation gaps occur in the middle of trends. In an uptrend, a gap upwards signals a continuation and it shows that additional buyers entered the market to push price higher. Large ones should be watched closely
As the name implies, a common gap is nothing extraordinary and it can happen frequently without any major implications about further price movements.
Common gaps often occur when price is ranging. These types of gaps are not big in size and get filled relatively quickly.
The upper trendline of the flag represents R
There are gaps below price
Gaps do not always fill, but the last one could be an exhaustion gap and these are more likely to fill
The lower one is what I think of as a take off or a break away gap. These are less likely to fill or could take a long time to fill. If the market or this stock has a major downturn, then support can lurk here
Pattern only valid at long entry level.
Just an observation
Breakaway gap
The breakaway gap describes a gap in price that gaps over a support or a resistance level.
The breakaway gap, thus, shows a trend continuation signal most of the time.
Exhaustion gap
The exhaustion gap usually happens during a trending period and can signal a reversal. Price makes one final gap in the direction of the trend and then reverses.
Continuation gap
Continuation gaps occur in the middle of trends. In an uptrend, a gap upwards signals a continuation and it shows that additional buyers entered the market to push price higher. Large ones should be watched closely
As the name implies, a common gap is nothing extraordinary and it can happen frequently without any major implications about further price movements.
Common gaps often occur when price is ranging. These types of gaps are not big in size and get filled relatively quickly.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.