How to Read Continuation Chart Patterns for Beginners
The common continuation Continuation Chart Patterns used to trade gold that beginner trade transactions should know are described below.
Continuation Setup Patterns
Continuation Patterns are:
Rising Wedge or Ascending Wedge Continuation Chart Setup Patterns
Rising wedge is a continuation pattern that forms during an upward trend & this Continuation Chart Patterns looks like a triangle consolidation pattern that has a rising slope that is moving upwards.
Rising wedge chart pattern has rising sloping support and resistance levels and this chart pattern setup highlights that prices keep moving higher & once prices move out of this rising wedge chart pattern the upward trend is likely to continue.
Falling Wedge or Descending Wedge Continuation Chart Setup Patterns
Falling wedge is a continuation pattern that forms during a downwards trend & this Continuation Chart Patterns looks like a triangle gold consolidation pattern that has a descending slope that is moving downward.
Falling wedge pattern has descending sloping support and resistance levels & this pattern setup highlights that prices keep moving lower & once prices move out of this descending wedge pattern the downwards trend is likely to continue.
Bullish Pennant or Bearish Flag Continuation Chart Setup Patterns
Bullish Flag is a chart pattern with parallel support & resistance levels that forms during a upward trend and a continuation signal is generated when price moves above the bullish flag pattern & the upward trend continuation signal is generated by this continuation bullish flag pattern.
Bearish Pennant or Bearish Flag Continuation Chart Setup Patterns
Bearish Flag is a chart pattern with parallel support & resistance levels that forms during a downward trend and a continuation signal is generated when the price moves below the bearish flag pattern & the downward trend continuation signal is generated by this continuation bearish flag chart pattern setup.
How to Read Gold Continuation Chart Patterns for Beginners
