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Technical Analysis & Chart Patterns

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Technical Analysis & Chart Patterns

Pennant

A short converging consolidation following a sharp move, forming a small symmetrical triangle.

Test: a steep prior move, followed by a brief consolidation whose upper and lower boundaries converge qualitative Technical Analysis & Chart Patterns

Piercing Pattern

A two-candle formation in which a rising candle opens below the prior falling candle's close and closes above its midpoint.

Test: previous candle falls; current Open < previous Low; current Close > midpoint of previous body but below its Open qualitative Technical Analysis & Chart Patterns

Pivot Point

A reference price computed from the previous period's high, low and close, with support and resistance levels derived from it.

Pivot P = (High + Low + Close) / 3; R1 = 2P - Low; S1 = 2P - High; R2 = P + (High - Low); S2 = P - (High - Low) ₹ Technical Analysis & Chart Patterns

Point and Figure Chart

A chart that plots columns of Xs and Os for price movement of a set size, ignoring time entirely.

New X or O is added each time price moves one box size; a reversal requires a move of the reversal amount, typically three boxes ₹ Technical Analysis & Chart Patterns

Price Action

The analysis of raw price movement itself, without indicators derived from it.

Test: the reading uses only the sequence of highs, lows, opens and closes, with no calculated overlay qualitative Technical Analysis & Chart Patterns

Pullback

A temporary move against the prevailing direction within an ongoing trend.

Test: price retraces a portion of the prior move without violating the swing point that defines the trend qualitative