DAY-6

Different types of price patterns like Double top and Double bottom, Head and Shoulder, Flag and triangle.
It gives the characteristics of the trend better than DOW theory. Double top and double bottom should have min 1 month duration and second top or second bottom should have high volume and double top makes bearish trend and double bottom makes bullish trend.
Head and shoulder should have min 3 months duration and high volume at left shoulder than right and we can expect a breakout while it crosses the previous bottom. Flag have steeper pole and min 3-7 days steady price movement and low volume during these. Flag should not drift lower and it can make breakout at the same side. Triangle have 5 triangle wave points to create triangle area and it takes 45 days to form.Breakout mayy happened around 70% of the triangle in either up or down. Cup pattern forms due to the accumulation in the market and it happens in a gradual way and it takes longer times to form.When the cup fills, breakout may happen.