Intraday Chart Patterns
Intraday Chart Patterns PDF in the stock markets are a representation of how the price has moved in the past and how it is moving in the present. Based on this, traders try to predict how the price will move in the future. There are various types of charts like Candlestick, Renko, Line, Bar, Heikin Ashi, etc. Different traders use different types of charts for trading but the most commonly used chart is the candlestick chart.
In Intraday Chart Pattern a rising wedge pattern is a micro uptrend that occurs in a major downtrend. When the trendline of this wedge breaks, the price can again join the major downtrend. This can allow intraday traders to ride the major trend. There are two types of wedges, one is the rising wedge and the other is the falling wedge pattern.
Intraday Chart Patterns
An intraday trader needs a proper framework to work within such a short window. And that’s where technical analysis plays a major role. Technical analysis involves studying charts that graphically portray price movements. As the price action takes place, certain patterns are formed on these charts. These patterns are used by traders to place intraday bets. Following are a few types of chart patterns that traders effectively use as a part of their trading setup.
- Head & Shoulder Pattern
- Cup & Handle Pattern
- Wedge Pattern
- Flag Pattern
- Double Bottom Pattern
- Double Top Pattern
- Triangle Pattern
You can download the Intraday Chart Patterns PDF using the link given below.
