Chart Patterns are patterns which occur in trading charts that help traders predict the probable direction the stock or currency pair is likely to move. Chart Patterns may form over any timeframe from a couple of hours to even years.
Candlestick Patterns also provide a reliable insight as to where the immediate direction of the stock or currency pair may head.
Firstly, we will look at chart patterns then candlestick patterns.
Pattern can divided into two categories:
- Reversal Patterns, where the market reverses its direction
- Continuation Patterns, where the market continues in the same direction after period of consolidation or retracement.
| Reversal Pattern | Continuation Pattern |
|---|---|
| Head and Shoulders | Triangles |
| Wedge | Flags |
| Double Top and Double Bottom | Penants |
| Triple Top and Triple Bottom | Channel and Rectangle |
| Rounded Bottom | Cup and Handle |
[Read this in Bahasa Indonesia]
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