Flags, pennants, triangles, and consolidation breakouts.
| Concept | Explanation | |---|---| | Bull flag | Downward or sideways consolidation after a sharp advance. | | Bear flag | Upward or sideways consolidation after a sharp decline. | | Pennant | Small converging consolidation following a strong move. | | Ascending triangle | Horizontal resistance with rising lows; often bullish-leaning. | | Descending triangle | Horizontal support with declining highs; often bearish-leaning. | | Symmetrical triangle | Lower highs and higher lows; breakout can occur in either direction. |
A pattern is not complete merely because its shape appears. Confirmation normally requires price to exit the structure.