Breakout of a Symmetrical Triangle
This is a pattern that has historically been unreliable. When a break out does occur to improve accuracy, breakouts should be with larger volume. The pattern is formed when consecutive columns have higher lows and lower highs. Which ever direction it then chooses can be considered a possible up coming trend.
Flag & Inverted Flag
This pattern starts formation after a large gain. The second stage of the pattern formation is consolidation where there will be a retrace back down from the large gain. This re trace will typically have consecutive lower highs and lower lows. The finally stage is when it moves throuhg the resitance level. This breakout should be of simlar distance as to the original large gain X-Column.
This pattern is similar to the flag pattern except for the consolidation period. In this pattern the consolidation period will have constant lows at the same level. The highs will be consecutively lower highs. Once this signal breaks out from the resistance line this could be used as a buy signal. The breakout has historically shown to be just as high as the large gain leading into the first stage of the pennant.