Bullish and bearish rectangle pattern

"Continuity Patterns"

1️⃣ Bullish rectangle pattern:

If this pattern occurs during an uptrend and the price breaks to the upside, it is called a bullish rectangle.

At least four touch points are needed to form a rectangle. Most often a price breakout occurs in the direction of the previous trend so a rectangle indicates a continuation of the trend.

The rectangular pattern is considered to form only after the price breaks the resistance line

Entry can be made after breaking the number and after retesting (if applicable)

2️⃣ Bearish rectangle pattern:

If this pattern occurs during a downtrend and the price collapses it is called a bearish rectangle

At least four touch points are needed to form a rectangle. Most often a price breakout occurs in the direction of the previous trend, so a rectangle indicates a continuation of the trend.

The rectangular pattern is considered to have been formed only after the price breaks the support line

Entry can be made after breaking the number and after retesting (if applicable)

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