What are Chart Patterns in Forex Trading?

Chart patterns in forex trading are commonly occurring repeating patterns that form on forex price charts and these chart patterns are used to analyze the currency pair price movement so as to attempt to predict the next direction of price based on the study of these commonly repeating chart patterns.

What are the Common Forex Trading Chart Patterns?

The common Forex Chart patterns are classified into Three different categories:

1. Reversal Candles Patterns

• Double tops Candlestick Patterns

• Double bottoms Candle Patterns

• Head and Shoulders Candle Patterns

• Reverse head & shoulders Candle Patterns

2. Continuation Candles Patterns

• Ascending triangle Candle Patterns

• Descending triangle Candle Patterns

• Bull flag/pennant Candle Patterns

• Bear flag/pennant Candlestick Patterns

3. Bilateral Candles Patterns

• Symmetric triangle - Consolidation Candle Patterns

• Rectangle - Range Candlestick Chart Patterns

Candlestick Patterns Forex Trading