Daily trading strategy using the Chart Pattern
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    Rookie erespe's Avatar
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    Lightbulb Daily trading strategy using the Chart Pattern

    Hello traders,

    We've often found the theory about naked trading. One of the naked trading strategy is using the chart pattern that occurs when the market experienced a consolidation.
    In This thread, I'm trying to look for chart patterns of consolidation phase, which is being formed, and what will happen after the breakout occurs.
    I would be glad if anyone who active in this thread, will also include a screen shoot for discussion, as the proverb say; "a picture tells more than a thousand words."
    To remind, that the chart pattern, is different from the candlestick pattern or with a harmonic pattern.
    Some examples of such chart pattern: Triangle (symmetrical, descending, ascending, pennant and wedges), flags, rectangles, head and shoulders, double top / bottom.

    Disclosure:
    This thread is not giving a trading signal, but merely as a place to learn together to understand the Chart Pattern.

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    I think these all patterns are very profitable we can do better trading in price action trading system with these all patterns, but buddy at least you should show a few chart pattern's because there are many members in this forum who don't know much about these patterns, so explain them with screenshots and make this thread more better

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    I have studies the works on the pattern on the trading charts, and they are very good when the trader uses them on the larger time frame, the 1 day trading chart is a very good example of the time frame it could be used upon. Forex traders should over-study all these pattern one after the other, but it is not easy in a single time to do. It takes a long study of the trader. Still good margin would be required for this pattern trading.

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    Rookie erespe's Avatar
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    As said before, a picture tells more than a thousand words here I attached the screen shot of Gold on daily chart. As seen on chart, Gold is now move in a consolidation phase and formed a bull flag pattern. This means that Gold has possibility to continue move bullish, if candle can makes breakout on resistance trend line. If it happens, the target will as long as the flag pole. Let's see

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    Quote Originally Posted by erespe View Post
    As said before, a picture tells more than a thousand words here I attached the screen shot of Gold on daily chart. As seen on chart, Gold is now move in a consolidation phase and formed a bull flag pattern. This means that Gold has possibility to continue move bullish, if candle can makes breakout on resistance trend line. If it happens, the target will as long as the flag pole. Let's see
    You are very correct, the picture can relate to many thing for the trader to represent what he is trying to say. And I am certainly sure that forex trading is more of how the trader is working, and the time frame matters, I do not joke with 1 day trading chart ever, they are very powerful. Forex trading with 1 day is very awesome truly.

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    Last edited by Gulfstream; 06-04-2015 at 12:25 PM. Reason: del pictures

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    Good strategy brother and i think it is useful for many traders who have not there own strategy and those whose strategy is not sufficient to make good profit in forex so i am also appreciate you to show this strategy to us and i think it is working well i will also try it on demo account than i will tell you about it that is it make some profit for me or not thank you brother

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    Quote Originally Posted by cozard007 View Post
    You are very correct, the picture can relate to many thing for the trader to represent what he is trying to say. And I am certainly sure that forex trading is more of how the trader is working, and the time frame matters, I do not joke with 1 day trading chart ever, they are very powerful. Forex trading with 1 day is very awesome truly.
    Using higher time frame will represent clear vision of current trend, but as traders have its own strategy and analysis, we can't force other to use same time frame. We can only suggest that higher time frame will work best to identify chart pattens or candlestick pattern.

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    AUDUSD moves flat inside the rectangle pattern. It will potentially became bullish if breaks above the resistance trend line. In conversely, it may possible to continue bearish if breaks the support trend line. Let's wait as the running price is now testing the resistance level.

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    Quote Originally Posted by Usmanali518 View Post
    Good strategy brother and i think it is useful for many traders who have not there own strategy and those whose strategy is not sufficient to make good profit in forex so i am also appreciate you to show this strategy to us and i think it is working well i will also try it on demo account than i will tell you about it that is it make some profit for me or not thank you brother
    We must keep practicing on the daily basis, to identify what chart patterns that appeared daily. The more we practice, the more we can easily identify the appearance of the chart patterns on chart. Thus it will make our awareness sharper and will help us to trade using this strategy. Don't forget to draw your lines to make some patterns. Happy learning

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    Quote Originally Posted by erespe View Post
    Using higher time frame will represent clear vision of current trend, but as traders have its own strategy and analysis, we can't force other to use same time frame. We can only suggest that higher time frame will work best to identify chart pattens or candlestick pattern.
    Each time we are trading we need to make use of a clear and concise Identification of the Market Trends. When the trend will become clear to us then we will be able to use the available trading opportunity with much success. It is being rightly said that for a trader to get any advantage he must first know what is the current market situation and then only he can hope to get some results from his trades.

    Each time we are doing our trading we can make use of a Different time frames to see what are the results that we are getting

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