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A rectangle can be used as an entry pattern for the continuation of an established trend. The formation usually occurs after a sharp price movement when price flows into a period of consolidation between 2 horizontal support and resistance levels, each of which is tested at least twice. Bullish rectangles can form after an uptrend, bearish rectangles can form after a downtrend. The pattern has completed when price breaks out in the direction of the prevailing trend, at which point it will likely continue in this direction.

Conservative traders may look for additional confirmation. There are 2 common techniques to estimate the target: either the height of the rectangle or the length of the preceding leg can be extended in the direction of the breakout. Some traders use both techniques and aim for 2 targets. Common stop levels are at the midpoint of the rectangle or just outside of it on the opposite side of the breakout. TradingView has a smart drawing tool that allows users to visually identify this pattern on a chart.
andmk2 andmk2 FPM, 1W, Long ,
11 0 1
FPM, 1W Long
Next leg for Faroe Petroleum?

Back at 154, last established over 4 years ago. Weekly 50 EMA has crossed the 200 EMA and both are trending upwards. The next move should be bullish. Wait and see.

andmk2 andmk2 AAZ, 1D, Long ,
25 0 1
AAZ, 1D Long
AAZ ready to breakout?

After a bullish cup and handle, AAZ went from 36 to 46. Is it now ready to break out for the next leg?

112 0 1
Descending triangle

The basic level of support is 7000. If the price drops below 7000 - there is a possibility to decrease price to 6000 ... Red line - VERY strong line of resistance (the upper side of the triangle), in case of crossing it - we'll get a path to 14,000. Decreasing volumes over two months indicates a decline in the flow of new capital, RSI in bearish zone, ADX shows ...

LeeThompson97 LeeThompson97 BTCUSD, 240, Long ,
151 0 2
BTCUSD, 240 Long
Bitcoin long position. Trend line & Divergence

Price is currently at the bottom of an ascending channel. Furthermore, divergence is clearly visible indicating a reversal. Great buy opportunity.

andmk2 andmk2 DB, 1D, Short ,
26 0 1
DB, 1D Short
Deutsche bank breaks to the downside

After ranging since Dec 2016, DB has broken its rough rectangle and broken to the downside. Still bearish

FernanEspejo FernanEspejo GBPUSD, 1D, Short ,
31 0 0
GBPUSD, 1D Short
Bearish Rectangle on GBPUSD

Bearish Rectangle is lower highs and higher lows, which is what it looks like to me on this daily chart. Looks like a bearish continuation sign.

andmk2 andmk2 ACA, W, Short ,
24 0 1
ACA, W Short
Rectangle on Acacia

Rectangle forming on Acacia. As it's a downtrend, expect more downside.

JordanWillson JordanWillson AUDCAD, 240, Short ,
38 0 3
AUDCAD, 240 Short
AUDCAD Short Opportunity

Here we have a double top formed on a 4 hour keeping inside a strong bearish rectangle. Level 0.98654 has not been broken and respected perfectly creating this formation, also strong convergence with the RSI and Stoch. If the 50% Fib level is broken at 0.98048 I will be looking at shorting this to around 0.97205 support level. It is also visible that it is being ...

50 0 1
Very Clear Bearish Rectangle on EURJPY

Here you can see a clear image of a bearish rectangle, showing that the bearish trend halted and began to consolidate. It respected the rectangle perfectly for over 12 days without any large breakouts. As time moved on it was comfortably within the rectangle however at the same time was being squeezed into a bearish pennant. This was a case of waiting patiently to ...

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