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Candlestick Charting Demystified by Wayne A. Corbitt

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Chapter 5

Candlestick Continuation Patterns

Candlestick continuation patterns represent a period of rest, or consolidation, in an existing trend. The formation of these patterns indicates that the side driving the trend (buyers in an uptrend or sellers in a downtrend) is taking a breather by either locking in profits or waiting for slightly better levels at which to buy or sell.

CHAPTER OBJECTIVES

In this chapter, you will

• Learn the purpose of continuation patterns

• Identify the types of continuation patterns

• Confirm continuation patterns

• Understand trading examples of continuation patterns

The advantage of identifying and trading with continuation patterns is that they can give a trader a safer entry point at which to either jump ...

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