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Top 6 Chart Patterns Every Trader Must Know!
1. Double Top – Bearish Reversal
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 – Bearish Reversal
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 – Bearish Continuation
Price tightens in an upward slope—often a setup for a breakdown.
Entry: After breaking down the wedge
Target: Start of the wedge
Stop: Just above the upper wedge line
4. Double Bottom – Bullish Reversal
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
5. Inverse Head and Shoulders – Bullish Reversal
A large dip (head) between two smaller dips (shoulders) signaling upside breakout.
Entry: Break above neckline
Target: Neckline to bottom of head
Stop: Below right shoulder
6. Falling Wedge – Bullish Continuation
Price contracts downward between two converging lines—usually leads to a breakout.
Entry: On breakout
Target: From wedge base
Stop: Below wedge support
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