Thread by @qbs_graphics

If you don't believe in technical analysis, don't open it...

Let's walk through the most common patterns used in TA...🧵👇

Falling wedges break out upward more often.

Rising wedges usually break downward.

Rectangle - more often it's a continuation than a reversal pattern.

Flags - frequent pattern with fairly reliable outcomes and a very low failure rate.

Pennants - almost always breakout in the same direction as the steep trend with few failures.

Cup & Handle - traditionally a bottoming pattern but can also be a continuation pattern. The continuation variety is typically a lot more reliable and profitable.

Head & Shoulders - usually gives failed breakouts and false signals when occuring within consolidation periods.

Descending Triangles - declining volume during formation adds to the performance on downward breakouts.

Ascending Triangles - price action within the formation is erratic and early fakeouts are common.

Symmetrical Triangles - performance is average for classic patterns, but increasing breakout volume adds a significant improvement.

Triple Top & Bottom - cofirmation is given by price breaking below the two bottoms (or tops in the case of a triple bottom)

Broadening Pattern - the breakout lines are in constant motion as the pattern develops, which makes them difficult to identify.

Broadening Wedge - more than 75% of the time, the breakout occurs in the direction from where price enters the formation.

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