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Analyzing Rectangle Patterns
Rectangle patterns are chart formations that indicate that a trend may be ready to reverse. Common rectangle patterns include the symmetrical and ascending/descending rectangles.
The symmetrical rectangle pattern appears after a prolonged uptrend or downtrend. This pattern indicates that the current trend may be ready to reverse. This pattern is characterized by two parallel lines in which price swings between the two lines.
The ascending and descending rectangle pattern appears after a prolonged uptrend or downtrend. This pattern is used to signal that the current trend may be ready to reverse. This pattern is characterized by two converging lines in which one line is rising and the other is falling.
