Chart Patterns Cheat Sheet 📈📊
Head and Shoulders: Trend reversal. Double Top and Bottom: Reversal patterns. Symmetrical Triangle: Consolidation before breakout. Ascending Triangle: Bullish continuation. Descending Triangle: Bearish continuation. Cup and Handle: Bullish continuation. Flag and Pennant: Short-term continuation. Wedge Patterns: Reversals or continuations. Double Top and Bottom: Classic reversals. Gaps: Significant price jumps. 📉📈 #TradingTips #ChartPatterns 🚀💹
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50% Pin Bar
📈 The 50% strategy is a technique that can be used to reduce risk on pin bar setups. On a bullish pin bar, if the market finishes higher than the entry on the following day, the stop loss can be moved to the low of that day. This allows for a 50% reduction in risk while still using a price action level as a stop loss. We're implying that if the market breaches the low of the prior day, we don't want to be in this trade any longer.
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