Breakout
Breakout technique seem very famous technique and it very easy. Just identify support or resistance. If it break, entry position. Sometime traders who is consider very conservative will wait for retrace. But for aggressive traders, they just jump in. Managing risk is very important. Let see, I identify the support, when it break then I open sell, my target is at fibo 161.8.
higher low
This is a bit similiar with double top and even stronger. Chart pattern higher low. Actually it is a variation of double top. Let see. 
As you can see at the chart, second top could not penetrate or have strength to move up compare to previous top or resistance, then it going down. So when our entry? the entry is same like double top which is at the line blue @ last support have been found. My target would be at 161.8. Can you see it bounce when it touch the 161.8 level of Fibonacci. You also can use this method to lower high or double bottom. Good luck
*keyword* higher low, Lower high, double top, double bottom, Fibonacci, resistance, support.
As you can see at the chart, second top could not penetrate or have strength to move up compare to previous top or resistance, then it going down. So when our entry? the entry is same like double top which is at the line blue @ last support have been found. My target would be at 161.8. Can you see it bounce when it touch the 161.8 level of Fibonacci. You also can use this method to lower high or double bottom. Good luck*keyword* higher low, Lower high, double top, double bottom, Fibonacci, resistance, support.
Trend and chart pattern
The most important thing in forex or any other market is trade with a trend. Here I want to show you how to combine trend and chart pattern that will become your powerful weapon in forex. Lets see the chart below.
As you can see at the chart, that we can spot the double top/bottom or any chart pattern such pennant, head and shoulder, wedge, ascending triangle etc but its only true when it comply to the trend. Example, if you can spot the double top then it break in line with the DT or if you spot double bottom and it break in UT then entrer the position.
Never trade againts the trend. May be some has exception like the first double bottom but its too risky only when you have other confirmation such if you know how to trade chous etc.
*keyword* chart pattern, pennant, head and shoulder, wedge, ascending triangle, double bottom
double top.
As you can see at the chart, that we can spot the double top/bottom or any chart pattern such pennant, head and shoulder, wedge, ascending triangle etc but its only true when it comply to the trend. Example, if you can spot the double top then it break in line with the DT or if you spot double bottom and it break in UT then entrer the position.
Never trade againts the trend. May be some has exception like the first double bottom but its too risky only when you have other confirmation such if you know how to trade chous etc.
*keyword* chart pattern, pennant, head and shoulder, wedge, ascending triangle, double bottom
double top.
Head and Shoulder Pattern
Head and shoulder pattern is a famous indicator or chart pattern for reversal. See the chart in gbp/usd, we have found the pattern. Why Head and shoulder? This pattern means that the price having difficulty to penetrate the resistance. Its once has penetrate but finally it fail to penetrate as a result the price would going down.
*keyword* Head and shoulder pattern
*keyword* Head and shoulder pattern
Entry position
This is a bit problem for me. When I know the trend, when should I have to enter my position. Either enter when the market break the line or wait for pull back. What i have seen that, most of the time, the market seem not going to make a pull back, it just go ...when it break the line, then i miss the opportunities. Btw, here some strategies i have found in forex-tsd forum. It called maginal ma. Plot EMA34 with high, low and close., and put pivot. Left of the chart.
As you see, at daily chart, at yesterday candlestik, I found shotting star means that it may downtrend for next candelstick. So in my mind, it only going to sell, but where my entry? I just found out my entry at 15 minute when the market break ther chart pattern @ double top. My tp may be at any pivot....we ll discuss later.
As you see, at daily chart, at yesterday candlestik, I found shotting star means that it may downtrend for next candelstick. So in my mind, it only going to sell, but where my entry? I just found out my entry at 15 minute when the market break ther chart pattern @ double top. My tp may be at any pivot....we ll discuss later.
Chart pattern
The most important chart pattern for me are the following;
1. double top and double bottom
2. higher high and lower low
3. head and shoulder
It is because these chart patterns are deal with horizontal support and resistance. You can find or googling the picture of these chart patterns and try to memorize it. But the chart pattern alone could not increase your odd. To win the trade you must have COE - confluence of events. It means that, some events happen at the same time, for instance, you saw the double top appeared, it mean its opportunity to have open sell, but the trend still up...so you cannot open sell...the signal is false... unless the double top is in line with trend which suppose to be down then you got your signal.
*keyword* double top, double bottom, higher high, lower low, head and shoulder, sell, signal
1. double top and double bottom
2. higher high and lower low
3. head and shoulder
It is because these chart patterns are deal with horizontal support and resistance. You can find or googling the picture of these chart patterns and try to memorize it. But the chart pattern alone could not increase your odd. To win the trade you must have COE - confluence of events. It means that, some events happen at the same time, for instance, you saw the double top appeared, it mean its opportunity to have open sell, but the trend still up...so you cannot open sell...the signal is false... unless the double top is in line with trend which suppose to be down then you got your signal.
*keyword* double top, double bottom, higher high, lower low, head and shoulder, sell, signal
Part time trader
I'm working....I'm not a full time trader. I think most of us is a part time trader. Being a part time, it not easy to deal with forex. I'm not saying that full time is easy, may be even difficult when dealing with pressure and stress.
As a part time trader, i always miss to trade, especially when news is come. So from now on, my principal is to trade on the daily basis, I mean my priority with daily candlestick. For example if I saw hammer is appeared in yesterday CS, then I will go long today but with one condition, that is -the trade is not conflict the the current trend. So with my circumstances, I only go long with uptrend and vice versa. Pls see the chart.
*keyword* uptrend, forex, part time trader, long
*keyword* uptrend, forex, part time trader, long
