#CurrencyPairPrediction Chart patterns are distinctive formations that appear on price charts and are believed by technical analysts to provide insights into potential future price movements. These patterns are formed by the visual representation of buying and selling pressures over a period of time. They are broadly categorized into continuation patterns, which suggest that the existing trend is likely to resume after a period of consolidation, and reversal patterns, which signal a potential change in the prevailing trend. Common continuation patterns include triangles (symmetrical, ascending, descending), flags, and pennants. These patterns typically show a temporary pause in the trend before the price continues in its original direction. Reversal patterns, on the other hand, indicate a possible shift in trend. Examples include head and shoulders, double tops and bottoms, and wedges. Recognizing these patterns requires practice and visual acuity, and traders often use them in conjunction with other technical indicators to confirm potential trading signals. The effectiveness of chart patterns can vary, and false breakouts or breakdowns can occur, so risk management is essential when trading based on these formations.