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A FEW PATTERNS TO NOTE: NO PICTURES, PATTERN AND PROJECTED NEXT MOVE


  1. Head and Shoulders: A bearish reversal pattern formed by three peaks, with the middle peak (head) being higher than the other two (shoulders). Projected move: Bearish.

  2. Double Top: A bearish reversal pattern characterized by two consecutive peaks at approximately the same price level. Projected move: Bearish.

  3. Double Bottom: A bullish reversal pattern marked by two consecutive troughs at approximately the same price level. Projected move: Bullish.

  4. Ascending Triangle: A bullish continuation pattern where the price consolidates between a horizontal resistance level and a rising trendline. Projected move: Bullish.

  5. Descending Triangle: A bearish continuation pattern where the price consolidates between a horizontal support level and a descending trendline. Projected move: Bearish.

  6. Symmetrical Triangle: A neutral continuation pattern formed by two converging trendlines, indicating indecision in the market. Projected move: Neutral.

  7. Cup and Handle: A bullish continuation pattern characterized by a rounded bottom (cup) followed by a small consolidation (handle). Projected move: Bullish.

  8. Rising Wedge: A bearish reversal pattern formed by converging trendlines, with higher highs and higher lows. Projected move: Bearish.

  9. Falling Wedge: A bullish reversal pattern formed by converging trendlines, with lower highs and lower lows. Projected move: Bullish.

  10. Pennant: A continuation pattern formed by converging trendlines after a strong price movement, signaling a brief consolidation before the trend resumes. Projected move: Depends on the prior trend, continuation likely.

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