A Japanese candlestick chart looks like a rectangle with two "tails" on the top and at the bottom. Same as the bars reflects four prices...
Tag: chart patterns
The Triangle pattern appears on different charts rather frequently. Normally, the Wedge is considered a reversal pattern, forming on maximums and minimums of a price chart in an up- or downtrend. A Wedge is quite similar to a Triangle, forming between the two converging support and resistance lines.
A pattern means a repeated element in different spheres of life – nature, psychology, music, design, trading, etc. When it comes to trading, a pattern is a stable and repeated combination of data on prices, volumes, or indicators. Chart patterns are specific and repeated areas on the price charts and sometimes they are called price patterns.