In technical analysis, transitions between rising and falling trends are often signaled by price patterns. By definition, a price pattern is a recognizable configuration of price movement that is identified using a series of trendlines and/or curves. A double top is an extremely bearish technical reversal pattern that forms after an asset reaches a high price two consecutive times with a moderate decline between the two highs. It is confirmed once the asset’s price falls below a support level equal to the low between the two prior highs.
A double bottom has a ‘W’ shape and is a signal for a bullish price movement. Head and shoulders pattern is a chart formation that appears as a baseline with three peaks: The outside two are close in height and the middle is highest.
A cup is a technical chart pattern that resembles a cup and handles where the cup is in the shape of a “u”. A flag pattern, in technical analysis, is a price chart characterized by a sharp countertrend (the flag) succeeding a short-lived trend (the flag pole).
Triangle chart pattern forms 5 wave corrective pattern (A-B-C-D-E). The Triangle area should be a minimum of 1.5 months. Volume is required for breakout