Saturday, July 13, 2024

Rectangle

A Rectangle is a chart pattern with two horizontal trend lines that act as clear support and resistance levels

Each trendline needs to contain at least two tops or bottoms.

The

rectangle is known as a consolidation pattern and indicates that the war between bulls and bears is raging. Prices have consolidated into a range.

Rectangle Pattern

In both uptrends and downtrends, volume is more likely to fall as the pattern completes its formation

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