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Session on basic chart patterns @ 10:30
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⭕ Basic Chart Patterns ⭕
Bulls 🐂 & Bears 🐻
What is a stock chart?
It’s simply a price chart that shows a stock’s price plotted over a time
frame, and it shows a few key sets of information:
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1. Stock symbol and exchange
The symbol for the stock, as well as the specific exchange it trades on.
2. Chart period
Typically daily, weekly, monthly, quarterly, or annually. Traders usually
concentrate on daily and intraday data to forecast short-term price
movements. Investors usually concentrate on weekly and monthly
charts to spot long-term price trends.
3. Price Change
There are four key data points from a day’s trading: open, high, low, and
close. “Open” is the price at the start of the day and “close” is the price
at the end of the day. The “high” is the highest price during the session,
while the “low” is the lowest.
4. Last Change
Displays the net change, positive or negative, from a previous price. On
a daily chart, it would be from the previous day’s close.
5. Types of Charts
There are three basic types of charts used:
Line: Plots the closing price of a chart over time, helping you to see how
a price is behaving.
Bar chart: Plots the open, high, low, and close (OHLC) for each day using
bars.
Candle and stick chart: A visually appealing chart similar to a bar chart
that shows OHLC data in an easy way.
6. Volume
Volume is the amount of stock that has been bought and sold within a
specific period of time. If a stock moves on low volume, it means that
few people are participating in the current price movement and the
trend may not continue. Meanwhile, if a stock moves on high volume, it
means many people are involved in the trade and the trend is more
likely to continue.
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Line chart
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Candlestick chart
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Bar chart
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Tends on a chart :-
1) Uptrend
2) Downtrend
3) Sideways
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Before we move on to types of chart patterns,understand what are
supports and resistances on a chart
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This is the most basic but most important thing on any chart.
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Now Types of chart patterns :-
1) Reversal patterns
2)Continuation Patterns.
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Types of Reversal Patterns:-
Double top
Double bottom
Head & Shoulder
Wedges
Rounding top
Rounding bottom
Triple top
Triple bottom.
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Types of Continuation patterns:-
Flag
Pennant
Symmetrical triangle
Ascending triangle
Descending triangle
Cup n handle.
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Now we ll go ahead with images & examples of these patterns
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⭕ Reversal patterns ⭕
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Double Top
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Example
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Double bottom
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Example
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Double top and bottom
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Next
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Head and shoulder pattern(Bearish pattern)
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Example
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Inverted Head & Shoulder(Bullish Pattern)
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Example
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Next
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Rising wedge
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Example
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Falling wedge
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Example
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Rising & Falling wedges
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Next
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Rounding top(Bearish pattern)
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Rounding bottom(Bullish pattern)
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Rounding top & bottom
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Next
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Triple top
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Example
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Triple bottom
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Example
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So let’s move on
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Flag pattern
Target 1 after breakout = length of pattern
Target 2 = length of pole
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Bullish flag pattern
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Bearish flag pattern
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Bullish & bearish flag patterns
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Example
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Most of the examples are the chart made by me and posted in group
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In reply to this message
See pattern identified well on time
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In reply to this message
Breakout
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Breakout sustained
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All happened in 3 days
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Bullish flag pattern
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Bearish flag pattern
Before and now
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Next
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Pennant pattern
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Bullish pennant
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Bearish pennant
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Example
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Next
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Symmetrical triangle pattern
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Example
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Breakout
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Breakdown
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Next
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Ascending triangle pattern
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Example
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See again the pattern was identified before the breakout
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Breakout
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Breakdown
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Next
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Descending triangle pattern
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Example
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See the jump after breakout
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See breakdown of pcj @289
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After that it went in 2digit
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Cup n handle pattern
Target = Depth of cup
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Inverted cup n handle
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Example
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After breakout it went to 408
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IC&H pattern
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There are several more pattern like
Bump and run
Rectangle
Measured move bullish and bearish
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So the “Basic chart patterns “ is [Link] much is enough for the
beginners.
Thanks & Regards
Ajai