$Here are the top 6 chart patterns every trader should know:
⬇*Bearish Reversal Patterns*😂
#berish 1. *Double Top*: Two peaks at the same level, followed by a breakdown of the neckline.
🚺- Entry: Below neckline
🏹 - Target: Height of the pattern
🤚- Stop: Above the second top
2. *Head and Shoulders*: A large peak (head) between two smaller peaks (shoulders), breaking below the neckline.
-🚺 Entry: Break of neckline
🏹 - Target: From head to neckline
- Stop: Above right shoulder
3. *Rising Wedge*: Price tightens in an upward slope, often leading to a breakdown.
🚺- Entry: After breaking down the wedge
🏹 - Target: Start of the wedge
🤚- Stop: Just above the upper wedge line
⬆*Bullish Reversal Patterns*😁
#bullish 1. *Double Bottom*: Two bottoms forming a "W" pattern, followed by a neckline breakout.
🚺- Entry: On neckline breakout
🏹 - Target: Same height as the bottom-to-neckline
🤚- Stop: Below the second bottom
2. *Inverse Head and Shoulders*: A large dip (head) between two smaller dips (shoulders), signaling an upside breakout.
🚺 - Entry: Break above neckline
🏹 - Target: Neckline to bottom of head
🤚 - Stop: Below right shoulder
3. *Falling Wedge*: Price contracts downward between two converging lines, usually leading to a breakout.
🚺 - Entry: On breakout
🏹 - Target: From wedge base
🤚- Stop: Below wedge support
*Pro Tips*
- Combine chart patterns with volume, RSI, or moving averages for stronger confirmation.
- Master these patterns to trade with confidence.
Hope this helps!
#pumpiscoming #downtrend