When prices are graphed, a chart pattern or price pattern is a pattern inside the chart. Chart pattern studies play an important role in technical analysis in the stock and commodity markets.
The head must be higher than the shoulders on both sides. A retreat, or swing low, occurs between each high. A head and shoulders top is a chart pattern that shows the end of a preceding rally. The top of the head and shoulders must occur during an uptrend.
Triangles are one of the most commonly used chart patterns in technical analysis since they appear more frequently than other patterns. Asymmetrical triangles, ascending triangles, and descending triangles are the three most prevalent types of triangles.
The supply and demand in the market are represented by chart patterns. On a trading chart, this causes the trend to move in a predictable fashion. Chart pattern movements, on the other hand, cannot be assured and should be utilised in conjunction with other market analysis tools.
Chart patterns are as reliable as any other trading strategy you can imagine. You won't attain perfect accuracy, but if you build a strategy around these patterns that is correct 60% of the time and yields at least two times your risk as winnings on positive entries, you should end most trading years in the black.
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So it's mean that Trends are 3 types : i) Bullish (ii) Barresh (iii) Siteway
And Traders are i) position trader (ii) Swing Trader (iii) Day trader (iv) Scalper Trader
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