Forming Reversal Chart pattern on Daily time frame -
A reversal pattern in technical analysis is a chart pattern that indicates a potential change in the prevailing trend of a financial asset. These patterns suggest that an ongoing uptrend or downtrend is losing momentum and may be about to reverse direction. Traders and investors use reversal patterns to anticipate trend changes and make trading decisions.
Expecting Chart Pattern - Head and Shoulder
The head and shoulders pattern consists of three peaks – a higher peak (head) in the middle and two lower peaks (shoulders) on either side. A reversal occurs when the price breaks below the "neckline" support.
A reversal pattern in technical analysis is a chart pattern that indicates a potential change in the prevailing trend of a financial asset. These patterns suggest that an ongoing uptrend or downtrend is losing momentum and may be about to reverse direction. Traders and investors use reversal patterns to anticipate trend changes and make trading decisions.
Expecting Chart Pattern - Head and Shoulder
The head and shoulders pattern consists of three peaks – a higher peak (head) in the middle and two lower peaks (shoulders) on either side. A reversal occurs when the price breaks below the "neckline" support.