Still smoking... Common knowledge is the first move can be a false move doesn't matter if it stays (wishfully on happy smoke) inside bands or higher. Frequent "false" ..."false" breaks above/below outerbands are common and one could just as easily say move outside bands are frequently reversals. What do I always say...(unless your trying to re-write price behavior out side bands or on happy smoke or being tooo biased/indulgent talking your book...the assessment is when price gets back inside the bands... Continuation Patterns...usually are about flags waving et al...and I don't play patterns or price outside Bands on any timeframe earlier than 60 minute...(if you don't see it on the 60 minute it didn't happen) " The appearance of continuation models usually indicates that the period of price stand still that you see on a chart is nothing more than a pause in the "development" of the prevailing trend. The trend direction will not change after the consolidation period has ended. This is one feature that distinguishes continuation models from reversal models. Reversal models usually reflect a turnaround in the prevailing trend.
Another difference between a reversal and continuation model is the duration of their formation. Reversal models, which tend to display crucial changes in price dynamics, usually last for a longer time, whereas trend continuation models are relatively shorter.
Continuation patterns Some of the common continuation patterns are triangles, flags, and pennants. Let’s look at each.
>>>a pause in the "development" of the prevailing trend...is the closest you can say a continuation is happening (consolidation before moving higher)...not a continuation "patter"...technically there are differences. When posting I want to see charts with the signals and patterns on them so everyone can see it...not just opinion... ...you're doing great..just show it on the chart for everyone to see... Smoke 'em if you gotta... Daily price closed outside the upperband 2nd day... Interesting in the difference...
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