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Fibonacci II: Sample Fibonacci Trades 28 Aug 2011 | 03:54 pm
The charts below show sample trades using the Fibonacci retracement. GBP/USD was going on an up-trend from November 2003. During an up-trend, traders would look for pullback and buy in. In January 200...
Fibonacci I: Retracements 28 Aug 2011 | 03:54 pm
The price movement of any financial market is in wave format. Suppose a currency pair is on an up-trend, going from 1.0000 to 1.1000. After reaches certain top “boundary”, 1.1000 for instance, it will...
Chart Patterns XII: Rectangles 28 Aug 2011 | 03:49 pm
The rectangle formation is often a very simple one to recognize. It is essentially a market that is trading in a range between two horizontal lines. The rectangle formation represents consolidation of...
Chart Patterns V: Triple Tops and Bottoms 28 Aug 2011 | 03:47 pm
A triple top is the same charting pattern as the double top with an extra relative high that touches the same resistance level. A triple top creates a strong resistance level and a neckline connecting...
Chart Patterns IV: Double Tops and Bottoms 28 Aug 2011 | 03:46 pm
The double top formation is a straightforward pattern that is easy to recognize on a chart. One of the features of a market in an uptrend is a series of increasing highs and relatively higher lows. If...
Chart Patterns III: Head and Shoulders 28 Aug 2011 | 03:45 pm
Head and Shoulders Pattern The Head and Shoulders pattern is one of the most famous reversal patterns and one that gives a clear signal and entry point. The head and shoulders in an uptrend consists ...
Chart Patterns II: Rules for identifying Reversal Patterns 28 Aug 2011 | 03:44 pm
The following are the three basic tenets about identifying reversal patterns. While they may seem obvious and even simplistic, they are important for successfully using these patterns. A Trend Must E...
Chart Patterns I: Introduction to Reversal Patterns and Continuation Patterns 28 Aug 2011 | 03:44 pm
There are two major ways to trade the financial markets: swing trading and trend following. Swing traders use technical analysis to look for short-term price movement and capture gains in a relative s...
Candlestick VII: Candlestick Patterns Confirming Reversals 28 Aug 2011 | 03:43 pm
Candlestick patterns are used to confirm reversals. Often when a price moves towards a support or resistance level, it is unclear for several periods on the chart whether it is going to break through ...
Candlestick VI: Using Candlestick Patterns in Trending Markets 28 Aug 2011 | 03:42 pm
Using candlestick patterns to trade trending markets can be an extremely useful tool to profit from exchange rate movement. The process is simple: Identify the overall trend Look for a retracement ...
