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This cheat sheet categorizes chart patterns into three main groups: Reversal, Continuation, and Bilateral Chart Patterns. These patterns help traders identify potential price movements in the market.
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1. Reversal Chart Patterns

These patterns indicate a possible change in trend direction.
1. Double Top
Bearish reversal pattern.
Forms two peaks at the same resistance level.
Breaks below the neckline to confirm reversal.
2. Head and Shoulders

Bearish reversal pattern.
Consists of three peaks (left shoulder, head, right shoulder).
Breaks below the neckline to confirm reversal.
3. Rising Wedge

Bearish reversal pattern.
Price forms a narrowing upward channel.
Breaks downward, signaling a trend reversal.
4. Double Bottom

Bullish reversal pattern.
Forms two troughs at the same support level.
Breaks above the neckline to confirm a trend change.
5. Inverse Head and Shoulders

Bullish reversal pattern.
Consists of three troughs (left shoulder, head, right shoulder).
Breaks above the neckline to confirm reversal.

6. Falling Wedge

Bullish reversal pattern.

Price forms a narrowing downward channel.
Breaks upward, signaling a trend reversal.
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2. Continuation Chart Patterns

These patterns indicate that the existing trend is likely to continue.
1. Falling Wedge

Bullish continuation pattern.
Price moves within a contracting downward sloping channel.
Breaks upward, continuing the trend.
2. Bullish Rectangle

Price consolidates within a horizontal range.
Breaks upward to continue the trend.
3. Bullish Pennant

Price forms a small symmetrical triangle after a strong uptrend.
Breaks upward, continuing the bullish trend.
4. Rising Wedge

Bearish continuation pattern.
Price forms a narrowing upward channel.
Breaks downward, continuing the bearish trend.
5. Bearish Rectangle

Price consolidates within a horizontal range.
Breaks downward to continue the trend.
6. Bearish Pennant

Price forms a small symmetrical triangle after a strong downtrend.
Breaks downward, continuing the bearish trend.
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3. Bilateral Chart Patterns

These patterns indicate that the price could break out in either direction.

1. Ascending Triangle

Bullish or bearish breakout potential.
Horizontal resistance with rising lows.
Breakout direction depends on volume and momentum.

2. Descending Triangle

Bearish or bullish breakout potential.
Horizontal support with falling highs.
Breakout direction depends on market conditions.

3. Symmetrical Triangle

Neutral pattern; breakout can be in either direction.
Converging trendlines indicate compression before a breakout.
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Key Takeaways:
Reversal patterns suggest a trend change.
Continuation patterns indicate trend persistence.
Bilateral patterns suggest uncertainty, with breakouts in either direction.
These patterns help traders set entry, stop-loss, and target levels to manage risk and improve trading accuracy.

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