Chart Patterns Cheat Sheet: Quick Reference for Traders
For deep dives on each pattern, see the chart patterns guide.
How to use this reference
After tracking 90+ trades on a live $600 Exness account across EUR/USD, GBP/USD, and BTC/USDT, these patterns held up when filtered by four conditions. Skip the filter and completion rates drop 20-30 percentage points.
Before any trade based on a chart pattern:
- Identify the trend: reversal patterns only work at the end of established trends. Continuation patterns only work within established trends.
- Confirm the level: is the pattern forming at a meaningful support, resistance, or prior swing?
- Check volume: does volume support the pattern? (Rising on breakout, falling on consolidation)
- Wait for the trigger: a close beyond the key level, not a wick.
Reversal patterns (signal a trend change)
Head and shoulders (bearish)
Signal: uptrend ending, expect downward reversal Structure: three peaks: left shoulder, higher head, lower right shoulder. Neckline at the two pullback lows. Entry: close below the neckline Stop: above the right shoulder’s high Target: neckline minus (head to neckline distance)
Inverse head and shoulders (bullish)
Signal: downtrend ending, expect upward reversal Structure: three troughs; mirrored version of H&S Entry: close above the neckline Stop: below the right shoulder’s low Target: neckline plus (head to neckline distance)
Double top (bearish)
Signal: two failed attempts to break resistance Entry: close below the swing low between the two tops (neckline) Stop: above the second top’s high Target: neckline minus (resistance to neckline distance)
Double bottom (bullish)
Signal: two failed attempts to break support Entry: close above the swing high between the two bottoms (neckline) Stop: below the second bottom’s low Target: neckline plus (neckline to support distance)
Rising wedge (bearish)
Signal: uptrend losing momentum, converging price action, bearish Structure: both upper and lower trendlines slope upward but converge toward an apex Entry: close below the lower trendline Stop: above the most recent swing high inside the wedge Target: measured from the widest point of the wedge, projected downward from the breakout
Falling wedge (bullish)
Signal: downtrend losing momentum, bearish pressure easing, bullish reversal Structure: both trendlines slope downward and converge Entry: close above the upper trendline Stop: below the most recent swing low inside the wedge Target: measured from the widest point of the wedge, projected upward from the breakout
Continuation patterns
Bull flag (bullish continuation)
Signal: uptrend pausing to consolidate before continuing higher Structure: strong upward “pole,” followed by tight sideways or slightly downward-sloping “flag” channel Entry: close above the upper flag trendline Stop: below the flag’s lowest low Target: add the pole height to the breakout point
Bear flag (bearish continuation)
Signal: downtrend pausing before continuing lower Structure: strong downward pole, followed by slight upward-sloping or sideways consolidation Entry: close below the lower flag trendline Stop: above the flag’s highest high Target: subtract the pole height from the breakout point
Ascending triangle (bullish continuation)
Signal: buyers making higher lows while hitting the same resistance: buyers gaining strength Structure: flat resistance line on top, rising support line below Entry: close above the flat resistance Stop: below the most recent swing low inside the triangle Target: add triangle height (widest point) to the breakout
Descending triangle (bearish continuation)
Signal: sellers making lower highs while testing the same support: sellers gaining strength Structure: flat support line on bottom, declining resistance line above Entry: close below the flat support Stop: above the most recent swing high inside the triangle Target: subtract triangle height from the breakdown
Symmetrical triangle
Signal: either direction; price is coiling before a breakout. Direction follows the prior trend. Structure: converging trendlines: lower highs and higher lows Entry: close beyond either trendline (in the direction of the prior trend) Stop: on the opposite side of the broken trendline Target: add/subtract triangle height from the breakout
Cup and handle (bullish)
Signal: consolidation after a pullback, forming a rounded bottom, followed by a brief flag; strong bullish setup Structure: rounded U-shaped “cup,” followed by a tight downward-sloping or sideways “handle” Entry: close above the cup’s rim level (resistance at the rim) Stop: below the handle’s low Target: add cup depth to the cup’s rim breakout level
Quick reference table
| Pattern | Type | Direction | Entry trigger | Stop |
|---|---|---|---|---|
| Head & Shoulders | Reversal | Bearish | Close below neckline | Above right shoulder |
| Inverse H&S | Reversal | Bullish | Close above neckline | Below right shoulder |
| Double Top | Reversal | Bearish | Close below neckline | Above 2nd top |
| Double Bottom | Reversal | Bullish | Close above neckline | Below 2nd bottom |
| Rising Wedge | Reversal | Bearish | Close below lower TL | Above last swing high |
| Falling Wedge | Reversal | Bullish | Close above upper TL | Below last swing low |
| Bull Flag | Continuation | Bullish | Close above flag top | Below flag low |
| Bear Flag | Continuation | Bearish | Close below flag bottom | Above flag high |
| Ascending Triangle | Continuation | Bullish | Close above flat top | Below last swing low |
| Descending Triangle | Continuation | Bearish | Close below flat bottom | Above last swing high |
| Symmetrical Triangle | Continuation | Trend dir. | Close beyond trendline | Opposite trendline |
| Cup & Handle | Continuation | Bullish | Close above cup rim | Below handle low |
Entry levels, stop losses, and lot sizes. Updated every trading day. Join free.
To see how these patterns combine with indicators like RSI and MACD, see swing trading technical analysis.
FAQ
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What is the difference between reversal and continuation patterns?
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Reader Reviews
Bookmarked immediately. The quick reference table at the bottom covers every pattern I actively trade with the exact trigger, stop, and target in one place. I used to screenshot different pages for each pattern, this replaced all of them. The distinction between context (trend direction) and entry trigger is clearly laid out.
The opening checklist (identify trend → confirm level → check volume → wait for trigger) is the workflow I've been trying to systematise for months. Having it written out that clearly made me realise I was skipping step 2 consistently, which explained a lot of my false breakout entries on triangles.
Solid reference page. The context note, that the same pattern in the wrong context gives the wrong signal, is something that trips up a lot of beginners. Seeing all the patterns and their directional requirements laid out side by side makes that concept click in a way that reading them separately doesn't.
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Forex Analyst & Senior Trader
Former FX desk trader with 8 years of experience in forex and crypto markets. Expert in multi-timeframe analysis, institutional order flow, and macroeconomic fundamentals.