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Pattern Types
Often, one of the following patterns as influencing the price action of a stock or market covered in AvidTrader research. Click on any pattern of interest for more information about its characteristics, its stages and real examples:
Channel
Double Bottom, Double Top
Head & Shoulders
Island
Rounding Bottom, Rounding Top
Symmetrical Triangle
Ascending Triangle
Descending Triangle
Complex Triangle
Trendline Touch
Wedge
Pattern Stages
Breaking
Consolidating
Correcting
False Break
Trending
Fallen Star
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Tips on looking at Charts from Avid Trader
A pure uptrend is a series of higher highs and higher lows, and a downtrend is a series of lower highs and lower lows. And in this regard, a CHANNEL is the purest form of trending.
When prices are trending in a CHANNEL, highs tend to peak upon testing the pattern's resistance trendline, and lows tend to bounce upon testing the support trendline. Volume in an uptrend should increase into the CHANNEL pattern's rally legs, and decrease into its declines. Similarly, volume in a downtrend should increase into the CHANNEL's declines, and decrease into its rallies.
A CHANNEL pattern's first reversal attempt doesn't often succeed before retracing back to its breakout level to consolidate. And until the breakout's trend were to resume, the pattern is vulnerable to resuming its original trending direction.
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