Technical Analysis

Technical Analysis

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A broadening wedge is a range where the price is holding between two trend lines that are moving apart. The pattern is also named a "megaphone" because of its shape.

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When using channels it’s good to know how spot the first signs of a price channel breakout - either if you are trading the range or the breakout itself.

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Both rectangles and price channels appear in virtually all forex charts. Price channels can provide excellent opportunities for trend trades.

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A bullish engulfing candlestick can be a useful buy signal. But in order to trade them we have to be able to recognize reliable patterns from the false ones.

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If you’d blindly traded the bearish engulfing candle over the past decade, you’d probably have done slightly worse than if you’d traded on a coin flip.

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Crossing support and resistance lines meet at so called convergences or confluent areas. Is there anything significant about these areas?

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The first step in trend trading is spotting key support and resistances. This post looks at trend trading with support, resistance and confluence lines.

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Trend reversals are often led by double top or double bottom chart patterns. If the reversal fails it can lead to a double top/bottom breakout.

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When a falling wedge pattern appears in a forex chart it hints at bullish sentiment. Like the rising wedge, this pattern is quite common at all time scales.

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Of the triangular patterns found in forex charts, the symmetrical triangle is possibly the most confusing and also the most difficult to trade. But how useful is this chart pattern in practice?