CHART PATTERNS (PART-14)

 As we already discussed on candlesticks patterns in our last 2 posts. In this post I am going to tell you about Chart Pattern.

• Chart Patterns are the patterns from on the chart by the collection of candlesticks. It is more relevant and give accurate predictions than candlesticks.

Chart Patterns show about reversal, continuation and neutral nature of market.

Reversal—> When will the trend change

Continuation—> Same trend is continuing

Neutral—> When will the breakout or breakdown happens

Reversal:—

1. Double top- It is the sign of bearish/ sell. Distance between top and neckline is equal to the neckline and price drop down/ equal to your estimate.

2. Double bottom- It is the sign of bullish/ buy. Distance between bottom and neckline is equal to the neckline and price up. You can take the equal distance estimate.

3. Head and shoulder- It is the sign of bearish/ sell. Distance between top and neckline is equal to the distance between neckline and price drop down. You can also take estimate of same distance 

4. Reverse head and shoulder- It is the sign of bullish/ buy. Distance between bottom and neckline is equal to the distance between neckline and price up. You can also take estimate of same distance.

If you have not visited our last post on double and triple candlesticks pattern then click on this link or copy it and paste it on chrome

Link- https://commerceworldteam.blogspot.com/2024/04/double-and-triple-candlesticks-patterns.html

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