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Price is by far the most important. Volume is secondary in importance and is used primarily as confirming indicators. Volume is the number of entities traded during the time period under study. The level of volume measures the intensity or...

The flag and pennant formations are quite common. They represent brief pauses in a dynamic market move. In fact, one of the requirements for both the flag and the pennant is that they be preceded by a sharp and almost...

Continuation patterns usually indicate that the sideways price action on the chart is nothing more than a pause in the prevailing trend, and that the next move will be in the same direction as the trend that preceded the formation....

A much more common reversal pattern is the double top or bottom. Next to the head and shoulders, it is the most frequently seen and the most easily recognized. Example of a bouble top. This pattern has two peaks (A...

There are two important lessons when studying chart patterns. The first is that none of these chart patterns are infallible. They work most of the time, but not always. The second lesson is that technical traders must always be on...

What is probably the best known and most reliable of all major reversal patterns is  the head and shoulders reversal. Most of the other reversal patterns are just variations of the head and shoulders. The left and right shoulders (A...

Price patterns are pictures or formations, which appear on price charts of stocks or commodities, that can be classified into different categories, and that have predictive value. Two types of patterns There are two major categories of price patterns–reversal and...

Price gaps are simply areas on the bar chart where no trading has taken place. In a uptrend, prices open above the highest price of the previous day, leaving a gap or open space on the chart that is not...