Even though this article will focus on the as a reversal pattern, the pattern can also fit into the continuation category. As a continuation pattern, the will still slope up, but the slope will be against the prevailing downtrend. As a reversal pattern, the will slope up and with the prevailing trend. Regardless of the type (reversal or continuation), rising are .
The can be one of the most difficult chart patterns to accurately recognize and trade. While it is a consolidation formation, the loss of upside momentum on each successive high gives the pattern its bias. However, the series of higher highs and higher lows keeps the trend inherently .
The final break of support indicates that the forces of supply have finally won out and lower prices are likely. There are no measuring techniques to estimate the decline – other aspects of should be employed to forecast price targets.