Head and Shoulders
The head and shoulders pattern is found in candlestick, point and figure, and chart patterns and is considered one of the most reliable reversal patterns.
The price forms a high on column one, followed by a period of consolidation. A second high is created followed by another period of consolidation, the right shoulder is then formed followed by a sell off. High volume should be seen on the last downward move.
Parralel support and resistance lines can be drawn as well as a visible neckline.
The height of the highest high should give a projection of the drop of the final downward move.