Is there any name for this chart pattern?

Beginner Questions Candlesticks, Chart Patterns, and Price Action
1

Hi there,

Is there any name for this chart pattern?

image
image4032Ă—3024 1.48 MB

Thanks!
Michael

2

  1. Rather than looking for a name, that’s a downward trend; so where you had your line is wrong. It should be up.

  2. As to the circles you drew, those are “Elliot waves”.

Warm Regards,
Ayọ

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3

Charts are useful to tell you what you can do, not so much for telling you what price will do.

You might want to identify in advance what is a tradable downtrend (for you) and what is bearish price action which is not tradable (for you).

The downward sloping line is below the swing lows of a downtrend and so is not relevant: the trend line for a downtrend should join the swing highs. Your swing highs are correctly identified by circles but you missed out the first and last swing lows. You will only be able to select the best positions to take a trade from if your TA is consistent. You could dump both horizontal lines and both rectangles for the same reason.

I’m hoping your strategy tells you what to do next. Which might include doing nothing.

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4

Erectile dysfunction

2-Figure2-1

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5

Almost a double Bottom. But whatever it is it looks like a reversal pattern. I can see by the higher 2nd low.