TIM THOMAS

The Top 5 Bullish Forex Chart Patterns for Swing Trading

Beginner swing traders will want to spend time studying key bullish forex chart patterns when developing their forex swing trading strategies.

The Lower Risk Way to Get into a Strong Bullish Trend

The lower risk route is to take advantage of the consolidation periods that almost always occur during sustained moves in price.

5 Bullish Forex Chart Patterns

1) Bull Flags and Pennants

Flags Bull flags are one of the commonest continuation patterns and are seen frequently on charts of all instruments and time frames.

1) Bull Flags and Pennants

Pennants Very similar to the bull flag, bull pennants also feature a large, high volume, flagpole candle followed by a series of smaller, consolidation candles.

2) Bullish Rectangle

Somewhat similar in appearance to both flags and pennants, these forex chart patterns are distinguished by price trading within a defined range during the consolidation period.

3) The Ascending Triangle

Another very common bullish continuation pattern, the ascending triangle is formed by two trendlines. The upper line is broadly horizontal, indicating that price has been testing, but has not yet been able to break, a key resistance level.

4) Symmetrical Triangle

As the name suggests, symmetrical triangles are neutral rather than bullish or bearish in themselves. The classic pattern forms when consolidation candles make a series of lower highs and higher lows, forming two diagonal mini-trendlines.

5) Cup and Handle

Less immediately obvious than flags, pennants, or triangles, the cup and handle is still a very common bullish pattern.

Swipe up now to read the full post!

READ MORE

How to Profit With the Average True Range Indicator

Instagram Stock: 6 Unique Ways to Profit from its Success