Forex Chart Patterns

• Head and Shoulders: pattern in which the value of the pair has a top, followed by a higher top, followed by a lower top at about the same level of the first top; the 'reverse head and shoulders' is analogous but works with bottoms instead of tops
• Double top/bottom: two consecutive tops/bottoms at about the same resistance/support levels
• 5-3: in the Elliot Wave theory, a pattern consisting of three strong bullish waves, alternated with two weaker bearish waves
• ABC Correction: in the Elliot wave theory, a pattern that usually manifests itself immediately after the 5-3 pattern and consisting of a strong bearish wave, a weaker bullish wave, and finally a strong bearish one
• Ascending/Descending/Symmetrical Triangles: a long series of alternating support and resistance levels that forms the shape of an ascending, descending, or symmetrical triangle converging to a specific level.
• Read more: "Common Forex Terms and Definitions: Essential Glossary for the Novice Forex Investors" -http://currencies.suite101.com/article.cfm/common_forex_terms_and_definitions#ixzz0CT0EBOML