Today I Went To Buy A Toaster And Was Given A Bank As A Free Gift!
JPM Reports In The Morning And This Chart Is Looking Very Scary (Medium Term)......FYI Update Nothing More Nothing Less!
Analysts expect JPMorgan Chase to post loss of 21 cents per share
A Continuation Wedge (Bearish) consists of two converging trend lines. The trend lines are slanted upward. Unlike the Triangles where the apex is pointed to the right, the apex of this pattern is slanted upwards at an angle. This is because prices edge steadily higher in a converging pattern i.e. there are higher highs and higher lows. A bearish signal occurs when prices break below the lower trendline.
Over the weeks or months that this pattern forms the trend appears upwards but the long-term range is still downward.
Consider the duration of the pattern and its relationship to your trading time horizons. The duration of the pattern is considered to be an indicator of the duration of the influence of this pattern. The longer the pattern the longer it will take for the price to move to the Target.
The shorter the pattern the sooner the price move. If you are considering a short-term trading opportunity, look for a pattern with a short duration. If you are considering a longer-term trading opportunity, look for a pattern with a longer duration.
Pattern Scan Lessons From Trending123.com
1. Pattern Scan Introduction On Performance (Review Video)
2. Pattern Scan Features Performance Tracking, Chart Review, Email Alerts, Stock Tracking (Review Video)
3. Pattern Scan Features Stocks Indices ETFs Kiss Of Death Cross (Review Video)
4. Pattern Scan Setting Up Email Alerts Easy 3 Step Wizard (Review Video)
5. Pattern Scan Email Alerts Bullish Patterns Failure Rate Lesson (Review Video)
6. Pattern Scan ETF Setup Email Alerts T123 Portfolio Shorts (Review Video)
7. Stock Scan Basic Search Finding Opportunities Instantly Weekly And Daily Bullish And Bearish Stock Setups (Review Video)
8. Advanced Stock Scan Screener Search Criteria Defined Instant Gratification Lookup (Review Video)
9. Advanced Pattern Scan Bullish Instant Gratification Scans Looking For Anything Bullish (Review Video)
10. Calculating Pivots With The Trending123 Pivot Calculator Updated Version (Review Update)
