Chart Analysis

Technical AnalysisTypes of ChartsNaked chartsRenko chartsJapanese CandlesticksTypes of CandlesticksChart PatternsWolfe WavesSupport/Resistance Lines

Technical Indicators

Ichimoku Kinko HyoPivots PointsCamarilla Pivot PointsFibonacci RetracementsThe Fractal indicatorMoving Average - MACDSSL indicatorRelative Strength Index (RSI)Stochastic OscillatorWilliams %RAccumulation / distributionBollinger BandsCommodity Channel Index (CCI)Parabolic SARDMI and ADXAverage True RangeVIX Volatility IndexForex/Oil/Gold correlationMarket cyclesVolume Spread AnalysisSupertrend indicator

Right-angled broadening wedges

Triangles  Triangles Symmetrical broadening wedge Symmetrical broadening wedge
Descending wedges  Wedges Broadening wedges  Broadening wedges
Flags and pennants  Flags and pennants right-angled broadening wedge Right-angled broadening wedge
Head and shoulders Head and shoulders Double tops  Double (or triple)
 tops (or bottoms)
Rectangle  Rectangles cup with handle  Cup with handle

 

The ascending broadening wedge consists of an upward sloping resistance line and a horizontal support line, and the opposite for the descending broadening wedge. The lines are drawn with a minimum of two contact points per line. Volumes tend to increase during the formation of the pattern and are at their maximum when prices break through the pattern. These chart patterns can be reversal or continuation patterns, but in 70% of cases, an ascending broadening wedge suggests a reversal of forex prices.

Right-angled broadening wedge