An Analysis of Chart Patterns and a Film Recommendation

​#Education

Let's look at your ideal type of chart.
After a downtrend, a Double Bottom pattern was formed, indicating that the reversal was coming. The break above the neckline after forming a second shoulder confirmed the upside momentum.

At some point, the Bullish Flag pattern was implemented. The break and the retest of the Flag pattern's upper border showed that the uptrend was still on.

After that, the Rising Wedge pattern was formed with upward-sloping support and resistance lines. Since this pattern was formed after an uptrend, this is a bearish sign. We sell after the breakout of the lower border of the pattern.

And that was how the short-term correction began. The downward momentum continued with the Bearish Flag pattern.

The correction ended with the Inversed Head and Shoulders pattern. We bought it after the breakout of the neckline.

The continuation of the uptrend happened with the Bullish Pennant Pattern. We could enter the rally after the breakout and retest the pattern's upper border.

After the breakout of the key level (i.e. significant resistance) and a retest we re-entered the market.

Would you like to learn more about сhart patterns?

Dive into a Financial Rollercoaster with "The Big Short"

Looking for some weekend entertainment? Explore the intriguing world of finance through the lens of "The Big Short" (2015). This film takes you on a wild ride through the events leading up to the 2008 financial crisis.

With an all-star cast including Christian Bale, Steve Carell, Ryan Gosling, and Brad Pitt, "The Big Short" offers a gripping portrayal of the financial mavericks who predicted the collapse of the housing market and the ensuing chaos.

Why should you watch it? "The Big Short" is more than a finance flick; it's a darkly comedic, thought-provoking masterpiece that demystifies complex financial concepts. It'll leave you both informed and entertained.

Join us for a cinematic journey that sheds light on the intricacies of the financial world while providing a fresh perspective on a historical event that shaped our times. Enjoy the movie and a weekend filled with enlightenment!