🐻 Bearish Reversal Patterns (Trend Changing from Up to Down)
1. Double Top
- Price forms two peaks at a resistance level.
- Confirmation occurs when the price breaks below the "neckline."
2. Head and Shoulders
- A peak (left shoulder), a higher peak (head), and a lower peak (right shoulder).
- A break below the "neckline" signals a bearish trend.
3. Rising Wedge
- Price moves within an upward-sloping, converging trendline.
- A breakout below the lower trendline confirms the reversal.
🐂 Bullish Reversal Patterns (Trend Changing from Down to Up)
4. Double Bottom
- Price forms two troughs at a support level.
- Confirmation occurs when the price breaks above the "neckline."
5. Inverse Head and Shoulders
- A trough (left shoulder), a lower trough (head), and a higher trough (right shoulder).
- A break above the "neckline" confirms a bullish trend.
6. Falling Wedge
- Price moves within a downward-sloping, converging trendline.
- A breakout above the upper trendline confirms the reversal.
📊 Trading Strategy Considerations
- Entry Point: After a confirmed breakout beyond the neckline or trendline.
- Stop Loss: Placed above (for bearish patterns) or below (for bullish patterns) key levels.
- Target: Measured by the height of the pattern projected from the breakout point.
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