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  1. #1
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    Chart Patterns

    Chart Patterns

    I will Explain here Chart Patterns through several topics individually even mastered all member Chart Patterns are strong.

    Chart Patterns:- These are models and certain forms are repeated on the charts consistently and expect to do what it has done in the past based on the argument (history repeats itself), which is one of the most important he has the technical analysis and thus show the importance and power of pricing models to relate this is actually a strong argument in the capital markets and also linked to the psychology of human beings where we expect what happened in the past to be repeated again in the future if repeated the same factors leading to it.


    First pattern will be :- Head & Shoulders Pattern.

    An overview of the form:

    Is a very common pattern and the most credible, this form occurs consistently in the markets form traditional in peaks and called Head & Shoulder Top or in the bottoms are inverted and called Head & Shoulder Bottom, this pattern consists After Rally large rally either after landing forces form an inverted and is a positive signal for the possibility of a change of direction or comes at the end of the bullish trend and is a negative signal for the possibility of changing the direction of bullish to bearish terms comes form the ordinary.




    Pattern is starting to form after Rally rally the forces which consists primarily left shoulder Left Shoulders and accompanied by a rise in trading volume Volume And then we find another rise in the composition of the head and trading volume begins to decline usually where the attendant left shoulder only a large volume and at least gradually to reach to the right shoulder consists us significant declines due to the shoulders and draw a line between the shoulders consists us neck neck line line and he represents the key to drop or climb by the direction of the model can be represented by a wall forces counteracts the price again to become a model is complementary to the direction and reflected role of reflector model to complementary model for direction.



    TP Determine:

    It calculates the target for this model by measuring the distance between the head to the neckline vertically and then we add that distance to the broken neck line of the model either up or drop.


    Entry points:


    Be on safe operation by a large margin after breaching the neckline and preferred to wait until the return of the price to the neckline to re-test, access, the first goal at the top / bottom first constituent previous result of the re-test, and get out and wait for a break point and return to re-engage the final target of the head and shoulders.


    Summarize for those who want a quick summary:

    This model consists of two basically

    Positive case: and where the head and shoulders in the bottom form an inverted Head & Shoulders Bottom

    Negative case: and where the head and shoulders in the summit as normal Head & Shoulder Top.

    Sub-cases

    Perfecting direction

    - Head and shoulders appearance during an uptrend as the inverted is complementary to the direction, and this case is weak.

    - Head and shoulders appearance during a downtrend as is the normal complement of direction and this case is weak.

    - The emergence of the head and shoulders inverted form during a downtrend with no break through the neckline is a complement to the downside, and for the same reason below.

    - The emergence of the head and shoulders as normal during an uptrend with no penetration neckline is complementary to the direction and here represents the neckline wall in front of the forces of price movement where the price can not break through this line and it bounces up to complement the trend and this case strong.


    Important Notes :

    1 - shoulders identical to a large extent.
    2 - If the level of the head shoulders, head and shoulders fails and turns into another form (head distinctive).
    3 - usually after breaching the neckline retest of the same line, and therefore have access to the stages as we explained previously.
    4 - Volume unimportant in the currency market, and therefore will not care too much volume Casas, but very important and very basic in other markets such as stocks.
    5 - head and shoulders fail when you return the price again trading up / down depending on the status neckline penetration.
    6 - After breaking neckline could see a rally the forces, and therefore the price does not re-neckline and a test of that required you to make sure that there is no strong levels in favor of a possible return again to re-test (for example, the existence of a support level or resistance Old front price or the presence of one strong Fibonacci levels 0.382 / 0.618 and therefore we can say that the possible price that falls back to re-test the neckline and become our entry in stages as we explained previously.

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  2. #301
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    Forex is a risky and tough business and traders have to know the pattern by which the market works. If we know and understand the basics of chart patterns and technical analysis in detail, then any strategy we apply will easily. The patterns also we should know are more effective depending on the time frame, that has been my personal trading experience as well and I am earning a good amount while trading with this method.

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  3. #302
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    Quote Originally Posted by Azeem View Post
    Forex is a risky and tough business and traders have to know the pattern by which the market works. If we know and understand the basics of chart patterns and technical analysis in detail, then any strategy we apply will easily. The patterns also we should know are more effective depending on the time frame, that has been my personal trading experience as well and I am earning a good amount while trading with this method.
    But with the every day learning, we can see that a lot of traders can handle the business and most of all become profitable. The chart is there for us to make use of and then get to make good analysis on how we trade, so most of the times, it being a business whereas a lot of people has lost their money is that they did lost because they are not doing the right thing, they are not learning as they should have.

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  4. #303
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    Quote Originally Posted by Darkhorse View Post
    But with the every day learning, we can see that a lot of traders can handle the business and most of all become profitable. The chart is there for us to make use of and then get to make good analysis on how we trade, so most of the times, it being a business whereas a lot of people has lost their money is that they did lost because they are not doing the right thing, they are not learning as they should have.
    if mostly people are earning then surely they have learned first how to trade and how to earn so we should concentrate also on it. so give it time and learn as much as you can. when we learn we get knowledge we get experience which is the most important thing in trading, if we have we can succeed otherwise we can lose here. so you should not think people are losing or not you should think about yourself, do not compare with other just learn from other and make your own experience here

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  5. #304
    Rookie Yayami's Avatar
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    Quote Originally Posted by touqir View Post
    if mostly people are earning then surely they have learned first how to trade and how to earn so we should concentrate also on it. so give it time and learn as much as you can. when we learn we get knowledge we get experience which is the most important thing in trading, if we have we can succeed otherwise we can lose here. so you should not think people are losing or not you should think about yourself, do not compare with other just learn from other and make your own experience here
    people, until now they're earning and losing from market which the quantities remains random since there's no logical data to tell such information. what makes me wonder is how long traders will stay profitable and survive from market with all its complexity and emotion-turner which could break trader's analysis easily. focusing our work to trade with patterns in market is one of the example how traders must pay attention to their chart instead reading on other's analysis.

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  6. #305
    Rookie layigold's Avatar
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    There are so many things to learn under chart patterns and some of them are already discussed in this thread . Some of the chart patterns I love to trade is head and shoulders pattern , double top and double bottom ascending and descending triangle just to mention a few . Trading some of these patterns at times might be very hard because it is not every time that they will be relevant or good for trading . It then follows that there is need fir more confirmations before you execute any trade on chart patterns

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  7. #306
    Rookie Azis Muslim's Avatar
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    Quote Originally Posted by layigold View Post
    There are so many things to learn under chart patterns and some of them are already discussed in this thread . Some of the chart patterns I love to trade is head and shoulders pattern , double top and double bottom ascending and descending triangle just to mention a few . Trading some of these patterns at times might be very hard because it is not every time that they will be relevant or good for trading . It then follows that there is need fir more confirmations before you execute any trade on chart patterns
    I forgot the names of candlestick patterns because I do not use the names but the function of each patterns to trade with. I also like to trade with your suggestion pattern there, and when I want to trade with trend I usually focus on ascending patterns in trend which I get the help from trend line and zig zag indicator. Support resistance level helps me to confirm if those patterns are accurate to take on or not.

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  8. #307
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    Quote Originally Posted by Azis Muslim View Post
    I forgot the names of candlestick patterns because I do not use the names but the function of each patterns to trade with. I also like to trade with your suggestion pattern there, and when I want to trade with trend I usually focus on ascending patterns in trend which I get the help from trend line and zig zag indicator. Support resistance level helps me to confirm if those patterns are accurate to take on or not.
    Haha that is okay, but I remember the names of the patterns i use because I dont use many of them but few of them. However the patterns we understand can give us useful insights into the price behavior and helps us take decisions. Everything in Forex is related to money, profits and losses and so emotions are prominent here. We should use stop loss in our trade and follow risk management.

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  9. #308
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    If you want to become profitable, it is all depending on your skills and knowledge. There are different candlestick pattern but I must say that you don't need to rely on just the candle stick pattern alone as they ain't gonna give you good results as required, but learn to use the indicators so as to get a strong confirmations and then be able to avoid bad trading decisions.

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  10. #309
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    The use of the chart pattern is one of the basic thing to understand as the whole movement on the market can be analyzed on the chart, therefore the trader needs to use the right chart which we all know to be the candlestick chart, so when it has been used in accordance with the way the trader wants to see it work. Then the trader should be able to then make good decisions. Trading takes a whole lot of learning and I am sure the demo account is just a good way to start learning from.

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  11. #310
    Rookie layigold's Avatar
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    That a particular chart pattern formation worked out well in the past does not mean it will always work out well all the time. Consequent upon this fact , it is not every chart pattern that looks good to trade that would eventually deliver good profits in fact , some might end in serious loss. Whenever you see a trade setup based on chart patterns, you must carefully manage the risk of trading even after the setup has been confirmed.

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