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Technical Analysis

Common Forex Chart Patterns

An introduction to trend lines, support and resistance, and frequently discussed chart formations.

Educational guide · 7 min read

Support and resistance

Support is a price area where buying interest has previously appeared; resistance is where selling interest has emerged. These zones are interpretive rather than precise levels.

Trends and channels

A trend line connects successive highs or lows. Channels draw parallel lines around price to frame a trending market.

Reversal formations

Head and shoulders, double tops and double bottoms are commonly cited reversal patterns. They are probabilistic observations and frequently fail.

Continuation formations

Flags, pennants and triangles describe pauses within a trend. Traders typically wait for confirmation and define risk before acting.

Limitations

Chart patterns do not predict future prices. Combine technical observation with risk management and an awareness of fundamental events.

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