Rectangles are like S triangles and are often a continuation pattern..
This one broke upside, sometimes they can be drawn back in to the rectangle though..this one looks to have momnetum on it's side..
The top trendline of the rectangle which was R now becomes support..
MR- Mid Rectangle..
Not a recommendation
This one broke upside, sometimes they can be drawn back in to the rectangle though..this one looks to have momnetum on it's side..
The top trendline of the rectangle which was R now becomes support..
MR- Mid Rectangle..
Not a recommendation
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.