Technical Analysis

Technical Analysis

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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.

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The ascending broadening wedge is a chart pattern that can be traded in several ways; either as a bullish/bearish breakout or with a swing trading strategy.

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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.