Technical Analysis & Chart Patterns
6 terms
Pennant
Technical Analysis & Chart Patterns
qualitative
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
Piercing Pattern
Technical Analysis & Chart Patterns
qualitative
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
Pivot Point
Technical Analysis & Chart Patterns
₹
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)
Point and Figure Chart
Technical Analysis & Chart Patterns
₹
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
Price Action
Technical Analysis & Chart Patterns
qualitative
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
Pullback
Technical Analysis & Chart Patterns
qualitative
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