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Chart Patterns Cheat Shee - New Trader U

The document discusses chart patterns as visual representations of past price movements in trading, indicating potential future trends. It highlights their use in breakout trading, risk management, and determining market direction. The author, Steve Burns, emphasizes that these patterns can be bullish, bearish, or indicate price reversals.

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13 views1 page

Chart Patterns Cheat Shee - New Trader U

The document discusses chart patterns as visual representations of past price movements in trading, indicating potential future trends. It highlights their use in breakout trading, risk management, and determining market direction. The author, Steve Burns, emphasizes that these patterns can be bullish, bearish, or indicate price reversals.

Uploaded by

phhdc4wrjk
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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Tue.

Dec 27th, 2022 2:42:05 PM

    

New Trader U
Helping Traders Thrive

  

CHART PATTERNS CHART READING

Chart Patterns
Cheat Sheet
By Steve Burns
 FEB 12, 2020

A chart pattern is simply a visual


representation of the prices
buyers and sellers bought and
sold in the past. There is no
magic in a chart pattern they just
show you what happened in the
past and what has a higher
probability of happening in the
future.

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A chart pattern can show that a


stock is in a range with defined
resistance and support. A chart
could also show an uptrend of
higher highs and higher lows are
a downtrend of lower highs and
lower lows.

The most popular use of chart


patterns is for breakout trading
signals as the probability
increases of a move in a specific
direction after a price breakout
of a previous support or
resistance.

ASX

Chart patterns can be bullish,


bearish, or show a price reversal
depending on the direction of the
momentum. They can also be
used as risk management tools
showing where to set stop losses
if a breakout fails or set profit
targets for a continuation.

A chart pattern is a visual tool for


seeing which direction a market
is moving in.

For a full explanation behind the


principles of these patterns
check out The Ultimate Guide to
Chart Patterns.

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Current Trend Falling


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FURTHER READING

PROFITABLE TRADING

How To Win The Game


Of Trading: 6 Lessons
Learned After
 DEC 27, 2022
30 Years
 STEVE BURNS
Of Trial And Error

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The 4 Things It Takes to


Be an Expert
 DEC 27, 2022  STEVE BURNS

STOCK MARKET

Stock Market for


Beginners (Step by
Step Guide) STEVE BURNS
 DEC 26, 2022

INSURANCE

Insurance Explained:
How Insurance
Companies
 DEC 26, 2022
Make
 STEVE BURNS
Money (How They
Work)

ABOUT US

About

Steve Burns:
After a lifelong fascination with financial
markets, Steve Burns started investing in
1993, and trading his own accounts in 1995.
It was … Read More

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Website and our services is intended for
educational and informational purposes
only and not recommendations to buy or
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