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What is a bullish chart pattern?

This pattern can often be used to identify potential entry points in the market. Bullish chart patterns are used by investors when they’re looking to buy a security. This is because bullish patterns signal a reversal following a downtrend.

What is the difference between a bullish and a bearish chart?

Those can firstly be categorized as bullish and bearish. Bullish chart patterns indicate that the downtrend is likely to be over, and a new bullish trend is about to begin. On the other hand, bearish chart patterns suggest that the existing uptrend is weakening, and a new downward trend is expected to start.

What is a bullish pennant pattern?

A bullish pennant pattern is a continuation pattern that typically forms after a sharp price increase or an ongoing uptrend. It is identified by a small symmetrical triangle shape, with converging trend lines that slope upward and downward, forming a pennant shape.

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