Price pattern are very important to understand the market. There are many price patterns in technical analysis like double top, double bottom, cup pattern, flag pattern and triangle pattern etc.
Double top denotes bearish trend. Double bottom denotes bullish trend. Cup pattern denotes long accumulation phase for a long time and makes way for break out.
Flag pattern forms in a shorter duration and gives a positive break out.
Triangle pattern denotes a corrective phase of the market and it gives a break out positively, after formation around 70 % of the zone of triangle.