CHART PATTERN
BY
TRADERGENIX
BILATERAL CHART
PATTERN
SYMMETRICAL TRIANGLE
Symmetrical triangles are price formations
where both support and resistance lines are
sloping and converging towards one another.
The resistance line falls downwards from the top
while the support line rises upward from the
bottom.
ASCENDING TRIANGLE
Ascending triangles can be defined as price action
formations where we have a horizontal top and an
up-sloping bottom. A breakout
can be either on the upside through the horizontal
resistance or on the downside piercing the rising
slope.
DESCENDING TRIANGLE
Descending triangles represent a bearish pattern
in which the price formation should consist of a
flat support line and a falling top; breakouts can
be upward or downward. While a downside
breakout during a bear market can result in
substantial gains.
CONTINUATION
CHART PATTERN
RISING WEDGE
A rising wedge is a bearish chart pattern
consisting of two converging trend lines, with the
first line connecting the recent lower highs and
higher highs, and a second trend line connecting
the recent lows. The resulting shape looks like a
triangle that is angled upward. The opposite of a
rising wedge pattern is a falling wedge.
FALLING WEDGE
A falling wedge pattern is bullish, although it
appears after a bearish trend. It signifies that bulls
have lost their momentum, and bears have
temporarily taken control of the price. As a result,
the price starts to make new lower lows, but at a
corrective pace.
BULLISH RECTANGLE
A Bullish Rectangle is a continuation pattern that
occurs when a price pauses during a strong trend
and temporarily bounces between two parallel
levels before the trend continues.
BEARISH RECTANGLE
The bearish rectangle is a continuation pattern
that occurs when a price pauses during a strong
downtrend and temporarily bounces between
two parallel levels before the trend continues.
BEARISH PENNANT
A bearish pennant is a chart trading continuation
pattern in which, after a strong move lower,
prices pause and consolidate briefly, then break
down further, resuming the larger correction.
BULLISH PENNANT
A bullish pennant pattern marks a pause in the
movement of a price halfway through a strong
uptrend, giving an opportunity to go long and
profit from the rest of the price rise.
REVERSAL CHART
PATTERN
DOUBLE TOP
PATTERN
The double top is a bearish reversal pattern that
signals the end of an uptrend. It is
formed by two price highs form at the same level
and a neckline that acts as local support. Traders
would wait for the price to break below the
neckline, after which they open short positions.
DOUBLE BOTTOM PATTERN
The double bottom pattern forms when two price
bottoms are positioned at relatively the same
level while a neckline acts as a resistance. This
pattern shows up at the end of a downtrend and
signals its reversal.
HEAD AND SHOULDER
The head and shoulders chart pattern refers to a
bearish reversal formation on the candlestick
chart to help traders identify a reversal coming
after a trend has ended. While the bullish setup
incurred that it is an inverse head and shoulders.
In a chart formation, they usually appear as a
baseline with three peaks. This pattern usually
shows up at the end of an uptrend and signals its
reversal.
INVERSE HEAD AND
SHOULDER PATTERN
The head and shoulders can also form in the
opposite direction. The inverse head and shoulders
follow a bearish move and signal that the market is
about to reverse.
As the name suggests, it is the same pattern
formation but only upside down. Thus, you should
be interested in opening long positions when
spotting this pattern on the chart.
RISING WEDGE
A rising wedge is a bearish chart pattern
consisting of two converging trend lines, with the
first line connecting the recent lower highs and
higher highs, and a second trend line connecting
the recent lows.
FALLING WEDGE
A falling wedge pattern is bullish, although it
appears after a bearish trend. It signifies that bulls
have lost their momentum, and bears have
temporarily taken control of the price. As a result,
the price starts to make new lower lows, but at a
corrective pace.
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RESPONSIBLE.
TRADERGENIX
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