Patterns
Chart patterns, explained
Chart patterns form over many candles: double tops, head and shoulders, flags, triangles and wedges. WickSpeak finds 30 of them. Each page shows what it looks like, how to trade it and what proves it wrong.
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Chart patterns 28 pages
Ascending triangle breakoutAn ascending triangle is a flat ceiling with rising lows pressing up into it, completed by a close above the ceiling.Bear flagA bear flag is a sharp drop (the pole), a few candles drifting gently back up, then a close back below them.Broadening breakdownA broadening breakdown is higher highs and lower lows, the range growing like a megaphone, followed by a close below...Broadening breakout upA broadening breakout up is higher highs and lower lows, the range growing like a megaphone, followed by a close above...Bull flagA bull flag is a sharp rise (the pole), a few candles drifting gently back, then a close back above them.Cup and handleA cup and handle is a long rounded dip that climbs back to its starting price (the cup), a small pullback (the handle)...Descending triangle breakdownA descending triangle is a flat floor with falling highs pressing down into it, completed by a close below the floor.Double bottomA double bottom is two lows at about the same price with a bounce between them, completed by a close above the high of...Double topA double top is two highs at about the same price with a dip between them, completed by a close below the low of that...Downtrend line breakA downtrend line break is a close above a line drawn through the last two falling swing highs.Falling wedge breakoutA falling wedge is highs and lows both falling, the highs faster, so the range narrows, followed by a close above the...Head and shouldersA head and shoulders is three highs, the middle one highest and the outer two about level, completed by a close below...Inverse head and shouldersAn inverse head and shoulders is three lows, the middle one deepest and the outer two about level, completed by a close...Inverted cup and handleAn inverted cup and handle is a long rounded rise that falls back to its starting price, a small bounce (the handle)...Island bottomAn island bottom is when price gaps down, trades for a few candles, then gaps back up, leaving those candles stranded...Island topAn island top is when price gaps up, trades for a few candles, then gaps back down, leaving those candles stranded with...Pennant pattern (bullish and bearish)A pennant is a sharp move followed by a small tightening triangle of candles, then a close beyond that triangle in the...Quasimodo pattern (bullish and bearish)A Quasimodo is a failed push that breaks structure, followed by a return to the level where that push began.Rectangle breakdownA rectangle breakdown is when price bounces between a flat ceiling and a flat floor at least twice each, then closes...Rectangle breakout upA rectangle breakout up is when price bounces between a flat ceiling and a flat floor at least twice each, then closes...Rising wedge breakdownA rising wedge is highs and lows both rising, the lows faster, so the range narrows, followed by a close below the line...Symmetrical triangle breakdownA symmetrical triangle breakdown is lower highs and higher lows squeezing together, followed by a close below the...Symmetrical triangle breakout upA symmetrical triangle breakout up is lower highs and higher lows squeezing together, followed by a close above the...Triple bottomA triple bottom is three lows at about the same price followed by a close above the bounces between them.Triple topA triple top is three highs at about the same price followed by a close below the dips between them.Uptrend line breakAn uptrend line break is a close below a line drawn through the last two rising swing lows.V bottomA V bottom is a sharp drop and an equally sharp recovery of most of it, with no base in between.V topA V top is a sharp rise and an equally sharp loss of most of it, with no top formed in between.
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