Both the novice and experienced trader will find a wealth of trading strategies here. This price distance is extrapolated from neckline at the point of breakout. Double tops and double bottoms are reversal patterns consisting of two peaks with a price valley. Flags and pennants are continuation patterns, usually a pause in fast, or almost vertical, price movement.
Flags are in the shape of a parallelogram, while pennants are very short triangles.
Broadening Triangles can be continuation and reversal patterns, this usually determined by the direction which they point. Ascending triangles if the slope is upward, it is bullish Descending triangles if the slope is downward. This pattern can last a long time. Be on the lookout for any trending activity. V-formations are continuation patterns which begin as initial reversals in trend.