Forex Chart Patterns: Wonderwall



#5 Most Important Forex Chart Patterns for ForeXmospherians Forex - Multiple Currency Pairs Traded through Multiple Timeframes utilizing Support and Resistance, Early Pattern Recognition. Read the Full description here with chart patterns: http://www.forexmospherians.com/blogs... Video dedicated to Forexmospherians and Forex Good Guys Everywhere. No copyright infringement intended. Music: Wonderwall -Oasis and Sung By Noel Gallagher #5 Most Important Forex Chart Patterns for ForeXmospherians 1. Double Tops, Double Bottoms, Treble Tops, Treble Bottoms: These are found at a Price Peak and S/R identified, the structure indicate a market reversal of the trend is probable. The Price peaks then swings with a peak again reaching S/R. Finally S/R is breached confirming the reversal with an entry point or market bias signal (depending upon Time Frame available). 2. Head and Shoulders and Inverted Head and Shoulders: H/S is a topping pattern versus Inv which is a base pattern. Both of the aforementioned can be utilized via waiting for the first shoulder to form and then the head shortly afterwards. Once identified the second shoulder would also need to form in order to confirm the pattern and structure. A break pattern of would start the reversal with an entry into the market. Initial Stops are normally placed at the head end depending upon the TF available which maybe too large to initiate in some cases. In which case the reversal can be viewed as a Market bias instead. A more conservative stop loss can be placed just above or below the last shoulder (depending upon whether H/S or Inv). 3. Channels, Narrow sideways, Falling or Rising: Price Action finds similar Support and Resistance levels upon each Swing. A break S/R can identify entry with Stop loss above/below the S/R of the direction break out. A more conservative S/L would be set at 50% of the channel height. Targets are the length of the pattern measured and calculated against at point of break. 4. Triangles; Symmetric, Descending or Ascending: Quite common and as described below. Sym Tri - Where Support and Resistance Lines converge via Lower Highs and Higher Lows. Desc Tri - Lower Highs and the lows are leveling at Support upon each swing. Ascen Tri - Higher Lows and the Highs are leveling at Resistance upon each swing. Entry Pattern Break, Stop loss behind S/R and trailed. If the pattern was too large in a particular Time Frame, then it would indicate and be utilized as market direction/bias instead. 5. Bull Flags and Bear Flags: Normally sighted after a Market rise or fall followed by spells of consolidation. These Patterns are viewed as a continuation of the existing direction and traded at the break out. Initial Stop loss at the highest/lowest point of S/R. Again, if these Patterns are too large to trade in the Time Frame then view as a bias.

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