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Technical Analysis
Chart Patterns Every Trader Should Know
Key Takeaways
- 1Head & Shoulders: Reversal pattern—enter on neckline break with volume; target = head height.
- 2Double Top/Bottom: Two failed attempts at same level = reversal; wait for confirmation candle.
- 3Triangles (ascending/descending/symmetrical): Consolidation before breakout; trade the break with volume.
- 4Flags & Pennants: Continuation patterns—tight consolidation after strong move; enter on break in trend direction.
- 5Wedges: Rising wedge (bearish), falling wedge (bullish)—enter on break with stop beyond pattern boundary.
- 6Measure breakout targets using pattern height; combine with Fibonacci for precision exits.
Summary
“Chart patterns map supply/demand zones. Trade breakouts with volume confirmation and measured targets.”
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