The number of those who’re new to our business increases every day. And reasonably, many of the newbies usually face a bunch of young investors' typical mistakes. But how to avoid them, you'll ask?
“Head and shoulders” pattern is probably the most famous of those occurring in the market and the one from which people start getting to know technical analysis and the market as such.
The “Flag” pattern is a technical analysis tool in the Forex trading that predicts continuation of the current market tendency (trend) and consists of two parts: the “flagpole” and the “Flag” (the channel within which the price moves).
The “Pennant” pattern is a technical analysis tool; when the pattern is complete, trend continuation is expected. The pattern itself represents a temporary pause (retracement) in the actively developing trend.
The “Wedge” pattern is a technical analysis tool in the Forex that predicts the approaching market tendency (trend) change.
The “Triangle” pattern is a simple technical analysis tool in Forex which is a series of falling tops and rising bottoms (4 points are required to draw the pattern).
Forex patterns are price models which often repeat in the market and result in certain regularity in the future price behavior.
Let's start this article by asking this question: “How much money can you afford to lose as a result of your next trade?”
Most traders use a trend line (in the future referred to as “TL”) to analyze and make trading decisions, making TL an essential tool for technical analysis.
To install and run the indicators from the "FXSSI Pro" pack, use these detailed instructions.
