The ‘Descending Wedge’ is one of my preferred technical patterns as I have found these to be very useful for helping to identify reversal moves. Some patterns that I have identified over recent years are illustrated below and I will add to this list as the charts present.
AA: Alcoa: this breakout gave a 94% gain:
Oct 14th 2013
ILU: Iluka Resources: this has given a 42% gain:
MU: Micron Technology: this has given a 300% gain:
USD/TRY 4hr: this gave a 12 fold return on Risk:
CONN: Conns: this has given a 180% gain: