If you're new to trading, understanding bullish and bearish trends is essential, especially when trading on platforms like Binance. These patterns provide key insights into market behavior, helping you make informed decisions. With the right knowledge, you could earn $100–$200 daily. Here’s everything you need to know:
Bearish Continuation Patterns
These patterns signal that a downtrend is likely to continue after a consolidation phase.
1. Bearish Flag: A downward trend followed by a rectangular consolidation and a breakout downward.
2. Bearish Pennant: A small triangular consolidation after a sharp downtrend, usually followed by another drop.
3. Bearish Rising Wedge: A narrowing upward price channel that breaks downward.
4. Descending Triangle: A flat support level with descending resistance, leading to a breakdown.
5. Inverted Cup and Handle: A rounded top followed by smaller consolidation before dropping further.
Bearish Strategy:
Short Entry: Enter after a breakdown from consolidation.
Stop Loss: Place above the resistance trendline or previous swing high.
Take Profit: Measure the height of the previous trend and project it downward.
Bullish Continuation Patterns
These patterns indicate that an uptrend will likely resume after a consolidation phase.
1. Bullish Flag: An upward trend followed by a rectangular consolidation and breakout upward.
2. Bullish Pennant: A small symmetrical triangle after a sharp rise, leading to another breakout upward.
3. Bullish Falling Wedge: A narrowing downward price channel that breaks upward.
4. Right Angle Descending Wedge: Descending resistance with flat support leading to an upward breakout.
5. Symmetrical Triangle: Converging trendlines forming a triangle, usually breaking upward.
6. Cup and Handle: A rounded bottom followed by smaller consolidation and an upward breakout.
7. J-Hook Pattern: A smooth upward curve signaling continuation.
8. Scoop Pattern: A rounded dip in price followed by a sharp rise.
Bullish Strategy:
Long Entry: Enter after a breakout from consolidation.
Stop Loss: Place below the support trendline or previous swing low.
Take Profit: Measure the height of the previous trend and project it upward.
How to Earn $100 Daily on Binance
1. Set Alerts: Use Binance's tools to set alerts for potential breakout points.
2. Risk Management: Limit risk to 1-2% of your portfolio per trade to protect your capital.
3. Scalp Trades: Focus on shorter timeframes (e.g., 5m, 15m) for faster trades.
4. Use Leverage Wisely: Apply leverage cautiously, with tight stop-loss orders to minimize risk.
5. Backtest Strategies: Practice using tools like TradingView or Binance demo accounts to refine your approach.
