The two patterns that are most recognizable for retracements are tops and bottoms. A top is created when price creates a higher high followed by a higher high and then a lower high. A bottom, is created when price creates a lower low, then a higher low.
Market Top Example:
Market tops and bottoms can be the first signals that a market is reversing. Both tops and bottoms can be formed over various lengths of time, some take a few days to form and some will take weeks or even months to form.
Traders would like to see for more complex patterns like head and shoulders, double tops, double bottoms and triple tops and bottoms.
Head and Shoulders: When price retraces and makes another high around the same level as the original high. A neckline is formed by an imaginary horizontal line extending from the low formed after the initial shoulder and the low formed after the head. The reversal signal is usually when price breaks through the neckline and begins to push lower.
Double – Triple Tops and Bottoms: The market makes two or three consecutive tops at around the same price level.
(CME, 2023, TECHNICAL PATTERNS: REVERSALS, https://www.cmegroup.com/education/courses/technical-analysis/technical-patterns-reversals.html )