Chart Patterns
Cheat Sheet
TREND CONTINUATION PATTERNS
BULLISH RECTANGLE
BULLISH CONTINUATION
• There was an uptrend in play, but price has reached a
price acceptance level with the same highs and same
lows.
• Wait for breakout up through the rectangle, a retest,
and then trend continuation.
BEARISH RECTANGLE
BEARISH CONTINUATION
• There was a downtrend in play, but price has reached a
price acceptance level with the same highs and same
lows.
• Wait for breakout down through the rectangle, a retest,
and then trend continuation.
ASCENDING TRIANGLE
BULLISH CONTINUATION
• Price is in an uptrend.
• Price is not breaking through resistance.
• Higher lows indicate a potential breakout.
• Retest of old resistance, new support could indicate
trend continuation.
DESCENDING TRIANGLE
BEARISH CONTINUATION
• Price is in a downtrend.
• Price finds a level of support.
• Lower highs indicate a potential breakout.
• Retest of old support, new resistance could indicate
trend continuation.
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BULLISH FLAG
BULLISH CONTINUATION
• Price is in an uptrend.
• There is a pullback with lower highs and lower lows.
• If it breaks the flag to the upside it could indicate trend
continuation.
BEARISH FLAG
BEARISH CONTINUATION
• Price is in a downtrend.
• There is a pullback with higher highs and higher lows.
• If it breaks the flag to the downside it could indicate
trend continuation.
BULLISH PENNANT
BULLISH CONTINUATION
• Price is in an uptrend.
• There is a pullback with lower highs and higher lows.
• Could indicate that sellers are losing momentum.
• If it breaks the pennant to the upside it could indicate
trend continuation.
BEARISH PENNANT
BEARISH CONTINUATION
• Price is in a downtrend.
• There is a pullback with lower highs and higher lows.
• Could indicate that buyers are losing momentum.
• If it breaks the pennant to the downside it could
indicate trend continuation.
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TREND REVERSAL PATTERNS
BULLISH HEAD & SHOULDERS
BULLISH REVERSAL
• Price is in a downtrend, reaching lows and lower lows.
• The neck line connects the highs between the two
shoulders.
• A break up through the neck line could indicate a
bullish trend reversal.
BEARISH HEAD & SHOULDERS
BEARISH REVERSAL
• Price is in an uptrend, reaching highs and higher highs.
• The neck line connects the lows between the two
shoulders.
• A break down through the neck line could indicate a
bearish trend reversal.
DOUBLE BOTTOM
BULLISH REVERSAL
• If price fails to break through support twice it could
indicate a reversal.
• The swing high between the double bottom lows
could be a good buy entry.
DOUBLE TOP
BEARISH REVERSAL
• If price fails to break through resistance twice it could
indicate a reversal.
• The swing low between the double tops could be a
good sell entry.
RANGE BREAKOUT
SYMMETRICAL TRIANGLE
RANGE BREAKOUT
• A ranging market ends up going into an ever
decreasing range with lower highs and higher lows.
• A breakout can happen in either direction.
• Target price can be the size of the base of the triangle.
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