Technical Analysis

Technical Analysis

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A gravestone doji can be a sign that an uptrend has moved too high, too quickly. This can mean some retracement is necessary before new highs can be made.

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As a trading pattern, the preferred way to trade the evening star is when it appears in the bullish upward swings of a downward trending market.

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A morning star strategy is used for trading on short swings in a downward trending market. The pattern usually shows up where the market has reached an oversold level.

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A harami pattern marks a sudden break in a trend where there’s indecision. At this point the buyers and sellers are closely matched leading the price to hover.

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When trading an uptrend we always want to be alert to changes in bullish sentiment even on a small scale. The dark cloud is one such pattern that we can look for as an early sign of a bearish reversal.

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A piercing line is a simple yet useful candlestick pattern to look for when trading short term up and down swings within a price channel.

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The characteristic “pitchfork pattern” is very common in forex and in other charts. So this is a method that has great practical application.

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Heikin Ashi is most useful for visually identifying places where the market is trending. This makes them suited to scalpers, swing traders, and day traders.

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The following cheat sheet will help you to identify the most common technical patterns that appear in forex charts. Click each heading for more information.

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The descending broadening wedge is easily spotted on a chart. It looks like a megaphone with a downwards tilt. It’s equally likely to appear in downtrends as well as uptrends.