Price patterns appear on the long range charts, which are inter­preted in the same way as on the daily charts. Double tops and bot­toms are very prominent on these charts, as are head and shoul­der reversals. Triangles, which are usually continuation patterns, are frequently seen.
Another pattern that occurs quite frequently on these charts is the weekly and monthly reversal. For example, on the monthly chart, a new monthly high followed by a close below the previous month's close often represents a significant turning point, especially if it occurs near a major support or resistance area. Weekly reversals are quite frequent on the weekly charts. These patterns are the equivalent of the key reversal day on the daily charts, except that on the long range charts these reversals carry a great deal more significance.