📘 Lesson 4: Classical Chart Patterns

📍 Part 4: Flags, Pennants, and Wedges

These patterns are great for identifying short-term pauses in trends before continuation.

1. Bull Flag:

🔹 Appears in an uptrend

🔹 Short-term downward channel

🔹 Breakout = continuation of the uptrend

2. Bear Flag:

🔹 Appears in a downtrend

🔹 Short-term upward channel

🔹 Breakout = continuation of the downtrend

3. Pennants (Bullish & Bearish):

🔹 Shape: Small symmetrical triangle

🔹 Meaning: Price compressing before a strong move

🔹 Signal: Continuation in the same direction as before

4. Falling Wedge:

🔹 Appears in a downtrend

🔹 Narrowing pattern downward

🔹 Breakout = bullish reversal

5. Rising Wedge:

🔹 Appears in an uptrend

🔹 Narrowing pattern upward

🔹 Breakout = bearish reversal

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