submitted by TopFreeFxSignal to u/TopFreeFxSignal [link] [comments]
If you have been in the forex market even for a little while, you have no doubt heard people say ‘trade with the trend.’ The sentiment is not just some anecdote we throw out there. There is a lot of truth in the statement, especially as it pertains to forex prediction.
In the forex forecast, identification of trends is one of the critical skills one needs to have to be successful. Patterns are not all the same; they vary. Some of them are short, intermediate, or long term. Identifying trends is highly profitable because it is how we do forex forecast.
When we come to a general trading strategy, we always encourage traders to trade with the trend. If the pattern is going up, you should proceed with caution and be attentive to the moves you make. A trend applies to more than just the general movement of the currency pairs.
"It was the first of a new kind of supernote ever found in the world," Lee Ho-Joong, head of KEB Hana Bank's anti-counterfeit centre told Agence France-Presse.Reporting the same news, The Telegraph published an article on Dec 11, 2017:
"It seems that whoever printed these supernotes has the facilities and high level of technology matching that of a government", said Lee Ho-jung, a bank spokesman from KEB Hana Bank in South Korea. "They are made with special ink that changes colour depending on the angle, patterned paper and Intaglio printing that gives texture to the surface of a note".ಠ_ಠ
Diamond Chart Patternsubmitted by alfafinancials5 to u/alfafinancials5 [link] [comments]
The diamond chart pattern is one of the reliable chart patterns mostly used by the day traders to identify the potential uptrend reversals. The bearish diamond’s occurrences are far more prevalent than their bullish counterparts. The diamond pattern has enabled a large number of traders to make quick profits.
Forex trading markets, because of their high liquidity, gives way to more diamond formations than any trading counterpart.
Cutting the Diamond Bear An offset head & shoulders formation is chosen for the trend lines to be sketched. The left shoulder and the head are connected through a straight line. The head is then connected to the peak of the right shoulder. This forms the upper boundary of the diamond. The price must not break the boundary for it to remain in the pattern.
For the lower part, the left shoulder is again connected to the trough formed after the head which is then connected to the right shoulder.
Identification: Diamond vs Head & Shoulders It is not hard to get confused with the pattern of head & shoulders and diamond as they mirror each other. The offset nature of the head & shoulders pattern can be identified by the head located closer to the left shoulder and the tail slightly closer to the right. And the neckline will always struggle to be a straight line.
Entry The right time to take the trade is by the completion of the pattern. The breakdown is most likely to happen right after the formation of the diamond, so shorting at the end of the right shoulder could prove to be beneficial.
Exit The safest exit is marked from the right shoulder with the difference in value between the highest Peak and the deepest crevice within the pattern. The diamond pattern’s breakdown has more profit potential than just the difference between the peak and trough, but, more than that is a risk.
Stop-Loss Stop loss is a counter-measure to limit your losses in case of the failure of your analyzed pattern. It is most advised to place the stop loss at the last peak formed before the completion of the diamond.
Bullish Diamond Pattern Bullish diamond chart pattern, also known as the diamond bottom is also an existing pattern which is straight opposite to what we have seen, except for the profit potential. It is used to identify the downtrend reversal, but their formation is scarce when compared to the bearish diamond tops.
For the Bullish diamond pattern, the entry is the same as that of the diamond top, but the exit by the uptrend and the stop loss is placed at the last trough formed inside the pattern.
Before trying the learned chart analysis pattern in real time, use the historic trading charts to check if you can identify the right pattern. Novice traders, because of their overwhelming enthusiasm, often put their knowledge to work before testing it out and incur heavy losses. Learning diamond pattern makes no difference if you don’t practice and hone your skills.
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submitted by alfafinancials5 to u/alfafinancials5 [link] [comments]
Trading Double Top and Double Bottom
Double top and Double Bottom are price action pattern formations identified to predict the behavior of the market. As the name suggests, Double Top is when the price action forms two peaks almost equal to each other, and the Double Bottom is when the price action dips to form two consecutive bottoms with only a peak separating the two. Of all the chart pattern formations, Double Top and Double Bottom could pass as one of the easiest-to-identify.
Double Top IdentificationDouble Top is formed when the market follows the uptrend and then pulls back. The pullback must have created a peak to its left in order to form a trough. The price then again rallies to form the second peak almost equal to the first, then drops again lower than the trough. The second peak, unable to break through the limit set by the first, marks the resistance and reduction in buying, thereby calling out a potential reversal.
Trading Double Top
NecklineThe right place to draw the neckline is at the lowest point of the pullback. The price rises from the trough to form the second peak and drops back again to the neckline completing the formation of Double Top and the opportunity.
EntryThe right time to enter the trade is by the completion of the pattern formation. When the shaky line from the second peak downs to the neckline signifying the uptrend reversal, it plunges deep breaking through the neckline. Shorting is the obvious option for profit since the prices are dropping.
ExitThe safest exit with considerable profit is calculated from the neckline with the same value as the height of the peaks.
Stop LossIn case, worse comes to worst and you misinterpret the chart for a double top, Stop Loss is the measure to keep your loss to the minimum. It is better to limit the loss to the latest peak created within the pattern.
Double Bottom IdentificationOn contrary to the double top, the double bottom is identified by a dip, followed by a rise, which is again followed by a dip. In the downtrend, the price forms a trough by pulling back to the upside. The price drops again to a point above the first trough unable to drop lower signifying the reducing sellers, thereby marking the downtrend reversal. The price then rallies all the way up until it falls short of buyers or reaches a balancing point.
Trading Double Bottom
NecklineHere, Neckline is the plane drawn to connect both troughs through the edge of the middle peak.
EntrySimilar to the double top, it is best to enter the trade by the completion of the double bottom. When the price rallies towards the neckline, it goes all the way up breaking through the neckline. So going long at the neckline makes the most of the opportunity.
ExitThe position in the uptrend, marked from the neckline with the same value as the height of the troughs, is safe to close the trade.
Stop LossStop Loss for the Double Bottom is set at the recent trough formed inside the pattern to limit the loss which is inevitable.Double Top and Double Bottom are trend reversal patterns, which even the traders who disregard the chart patterns look forward to. These are simple trading patterns and doesn’t require much expertise to be able to identify, but the only shortcoming is that the reward: risk ratio is not too tempting. The ratio can be made favorable by setting stop loss in a much closer position. It is advised to take the trade only when the potential for profit is sound.Start forex trading with the use of demo account before you investing the real capital. That way you can get a feel for the process of trading and decide if trading forex is for you also we provide the best trading platform for beginners. When you're consistently making good trades on the demo account, then you can go live with a real forex account. Limit your losses.
Hello team, today I would love us to look at structure drawing & pattern identification on forex charts. I hope you had a wonderful week last week and the weekend was relaxing. My last post focused on patterns and I hope it was very educative simply because this patterns occur very often and they tend to behave the same way. We can catch so many trades if we realize how we can use this ... Like we promised, here’s a neat little cheat sheet to help you remember all those chart patterns and what they are signaling. We’ve listed the basic forex chart patterns, when they are formed, what type of signal they give, and what the next likely price move may be. For example: The inside candle notification master switch is turned off by default on passive 4 hour, and 1 hour scanning, to avoid excessive notifications about inside candles forming frequently on your charts. Candlestick Pattern Drawing Options. The Battle Station will mark any detected candlestick pattern (you told it to), on the chart by drawing a color coded vertical line down the center ... Pattern Recognition Master MetaTrader indicator — the kind of indicator that helps you with the routine work, marking the candlesticks on the chart with the names of the corresponding patterns (like doji or shooting star) where applicable.All you have to do is just to look if this chart pattern is bullish or bearish, check the general trend and decide your trading stance. Trading Guides: Identifying Chart Patterns in Forex Trading. When closely examining a Forex currency pair chart, traders can identify various patterns that can help them figure out market momentum and market psychology for that specific currency pair. Pattern identification alone is not enough to trade successfully, but when combined with technical indicators and other trading tools patterns ... How The Forex Candlestick Pattern Indicator Works. How this candlestick pattern indicator works is pretty simple once you upload onto your MT4 chart: Automatically scans the charts no matter which time frame you put it on and it will show you exactly where there are specific candlestick pattern formations such as the Evening Doji Star, Evening Star, Shooting Star, Bearish Engulfing Pattern ... This disqualifies the price structure from being traded as a head and shoulders pattern. Another common mistake among Forex traders is to use a measured objective as a “one-stop shop”. In other words, they simply measure out the distance in pips and then set a pending order to book profits at that level. While that may occasionally work out in your favor, a much better approach is to ... Das zweite Beispiel widmet sich dem Spring Umkehrstab Pattern und ist durch folgende Bedingungen charakterisiert: ... Im obigen Price Action Forex Chart des GBPUSD gibt es drei Beispiele von Sternschnuppen Mustern, alle hervorgehoben durch die gelben Boxen. Durch Analyse von Open, Close, Hoch und Tief legt das Muster nahe, dass eine Bewegung nach unten wahrscheinlich ist. In diesen Beispielen ... The Free MT4 Forex Candle Stick Pattern indicator Download can be done from our forum – unfortunately the website does not allow the indicator file type to be downloaded for this website. Click here to download from the Forum. Please note this is note an Expert4x indicator and has been sourced from the internet by client referral – we can not offer education and support on using this ... Patternz: Free automated pattern recognition software that recognizes over 170 patterns (works on Win XP home edition, ONLY), including chart patterns and candlesticks, written by internationally known author and trader Thomas Bulkowski.
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