It's not a textbook example because the second low was slightly lower.
Target extension in red, and target was met.
Bullish pennant.
Continuation.
Pattern drawn in black.
ANSWER 5.2 ATI Daily
Head and Shoulders.
Reversal.
Drawn in blue. Down-sloping line is the “neckline.”
Target extension in red, and target met.
ANSWER 5.3 EUR Daily
The larger pattern started off as a pennant, or descending wedge, and then changed into a shallower pennant, almost a flag.
The medium-sized pattern is a shallow pennant.
Both are continuation patterns.
Drawn in blue.
Yes. Flag followed by pennant, drawn in black.
ANSWER 5.4 GILD Daily
V or spike bottom.
Reversal.
Pattern in blue.
ANSWER 5.5 IBM Daily
Triple bottom.
Reversal.
Drawn in blue.
No because the second upswing is higher than the first.
The head is higher than the two shoulders.
ANSWER 5.6 GBPUSD Daily (2) ...
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