Which chart pattern is best for trading?

Flag pattern is another common chart pattern in trading. It appears after a sharp price movement, followed by a consolidation period where the price moves in a small range, forming a flag-like shape. This pattern suggests a continuation of the initial trend after the consolidation period ends.

Symmetrical triangle is a chart pattern often seen in trading. It forms when the price action of an asset is converging into a triangle shape, with both sides of the triangle sloping inwards. This pattern indicates a potential breakout in either direction, and traders often wait for a confirmed breakout to enter a position.

Head and shoulders pattern is a bearish reversal pattern that forms when the price action creates three peaks, with the middle peak being the highest. This pattern suggests that the upward trend may be losing momentum and could soon reverse.

Wedge pattern is similar to the symmetrical triangle but has converging trendlines that are not parallel. It indicates a potential reversal of the current trend, as the price action is squeezed into a narrowing range before breaking out in one direction.

Double top pattern forms when the price of an asset reaches a high point twice, with a slight decline in between. This pattern suggests that the asset may be facing resistance at that level and could potentially reverse its trend.