Bearish Reversal Patterns 🔴 (Potential Downtrend)
1. Bearish Double Top
- Two peaks at nearly the same level followed by a breakdown below support.
- Indicates a reversal from an uptrend to a downtrend.
2. Bearish Head & Shoulders
- Three peaks with the middle one (head) being the highest.
- A break below the neckline confirms a bearish trend.
3. Bearish Rising Wedge
- Price moves within a contracting upward-sloping range.
- Breakdown below the lower trendline signals a bearish move.
4. Bearish Triple Top
- Three peaks at nearly the same level, followed by a breakdown.
- Confirms a bearish trend once support is broken.
Bullish Reversal Patterns 🟢 (Potential Uptrend)
1. Bullish Double Bottom
- Two troughs at nearly the same level followed by a breakout above resistance.
- Indicates a reversal from a downtrend to an uptrend.
2. Bullish Head & Shoulders (Inverse H&S)
- Three troughs with the middle one (head) being the lowest.
- A breakout above the neckline confirms a bullish trend.
3. Bullish Rising Wedge
- Price moves within a contracting downward-sloping range.
- Breakout above the upper trendline signals an uptrend.
4. Bullish Triple Bottom
- Three troughs at nearly the same level, followed by a breakout.
- Confirms a bullish trend once resistance is broken.
Trading Strategy Considerations 📊
- Entry Point: After a confirmed breakout/breakdown.
- Stop Loss: Placed below/above support or resistance.
- Target: Based on the height of the pattern projected from the breakout point.
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