“Unlock the Secrets of Forex: Simple Technical Analysis Tips to Transform Your Trading Game!”
Some common chart patterns include head and shoulders, triangles, wedges, and flag and pennant patterns. Each of these patterns has a distinct appearance and is associated with specific price movements and trends.
Head and shoulders patterns, for example, are reversal patterns that indicate a potential trend change from upward to downward. They are characterized by a peak (left shoulder), a higher peak (head), and a lower peak (right shoulder) that form the shape of a human head and shoulders.
Triangles, on the other hand, are continuation patterns that indicate a potential trend continuation in the direction of the previous trend. They are characterized by a narrowing of the price range, with the price making lower highs and higher lows.
