Daily Chart Patterns
Head & Shoulders
What is a Head & Shoulders Pattern?
The head and shoulders formation occurs when stock prices rally to a peak then decline, the rise above that peak forming a head and finally fall again but not as far. The first and third peaks are shoulders, and the second peak forms the head.
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Head & Shoulders Inverse
What is a Head & Shoulders Inverse Pattern?
The head and shoulders formation occurs when stock prices fall and then rise, continue to fall and rise again, then fall again but not as fall forming an upside-down head & shoulders pattern. The first and third peaks are shoulders, and the second peak forms the head.
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Channel Up
What is a Channel Up Pattern?
Channel up patterns refers to a chart with both support and resistance trendlines in an upward trend.
Channel Down
What is a Channel Down Pattern?
A channel down pattern refers to a chart with both the support and resistance trendlines on a downward direction.
Wedge Up
What is a Wedge Up Pattern?
Wedge patterns are composed of converging trendline support and trendline resistance. Wedge up patterns occurs when an upward trendline support and upward trendline resistance come into play often causing a reversal in movement.
Wedge Down
What is a Bearish Engulfing Pattern?
Wedge patterns are composed of converging trendline support and trendline resistance. Wedge down patterns occurs when a downward trendline support and downward trendline resistance come into play often causing a reversal in movement.
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Triangle Ascending
What is a Triangle Ascending Pattern?
Triangle patterns are composed of converging trendline support and trendline resistance, where one of the trendlines is horizontal. A triangle ascending occurs when the upward trendline support and horizontal trendline resistance.
Triangle Descending
What is a Triangle Descending Pattern?
Triangle patterns are composed of converging trendline support and trendline resistance, where one of the trendlines is horizontal. A triangle descending occurs when the horizontal trendline support and downward trendline resistance.
Double/Multiple Tops
What is a Double/Multiple Tops Pattern?
The double top and multiple top trend-reversal patterns are defined by: 1. prior uptrend 2. horizontal resistance consisting of two equal highs (double top), three and more equal highs (multiple top) 3. horizontal support defined by the low of the pattern's period (starting at the first and ending at the last top) 4. break of the horizontal support signals completion of the prior uptrend reversal
Double/Multiple Bottoms
What is a Double/Multiple Bottoms Pattern?
The double bottom and multiple bottom trend-reversal patterns are defined by: 1. prior downtrend 2. horizontal support consisting of two equal lows (double bottom), three and more equal lows (multiple bottom) 3. horizontal resistance defined by the high of the pattern's period (starting at the first and ending at the last low) 4. break of the horizontal resistance signals completion of the prior downtrend reversal
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