Forex Chart Double Patterns

Forex chart double patterns

Middle School Course

Welcome to the middle school level summary in your journey to answer ‘what is forex trading?’ Before you get started in this part of the course, you should probably know a thing or two about what to expect.

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In the last module for the elementary level, the details were more focused on charts, indicators and even some Fibonacci math in understanding the foreign exchange market.

In Middle School, we are going to be looking at three major topics.

  1. Oscillators and Momentum Indicators
  2. Important Chart Patterns
  3. Pivot Points

The whole point of this level is for you to learn how to employ chart indicators, spot chart patterns and use pivot points to get the best deals in the forex market.

It is all about making sure that as a trader, you do not lose money.

After all the options that we have looked at so far in the analysis of ranges and trends, it is time to get into this level and look at the strengths and weaknesses of each of these methods.

Here is what you can expect to learn to advance your prowess in online trading.

Oscillators and Momentum Indicators

In this module, the following subtopic of currency trading will be under the microscope:

  • Leading vs.

    Forex chart double patterns

    Lagging Indicators

Leading indicators show signals before a trend occurs, reverses or starts. The lagging indicators only signals after the trend has begun.

How to Trade Double Tops and Bottoms

How do you utilize these indicators? Learn more in this subtopic.

  • How to Use Oscillators to Want You of the End of a Trend

When a trend ends, the way you enter or exit the market changes.

Oscillators show you when you can no longer coast on a trend and make profits.

Forex chart double patterns

You will learn how to come up with criteria that will help you know when not to trade.

  • Use Momentum Indicators to Confirm a Trend

Spotting trends makes you a better trader. The best thing about this is that when you know what to do, you will rarely be wrong or lose money.

Reversal Chart Patterns

Moment indicators will be useful when you want to predict a trend and know when to trade.

To summarize this part of the course, you will learn to persevere and be patient when you want to trade or even spot trends that may be profitable to the trades that you want to make. Do not expect to be good at once. Learn first, practice patience and you will know how to trade forex.

Important Chart Patterns

Having knowledge of the tools to do FX online is the best way to prepare yourself before you walk into the world of forex trading.

That is what this part of the Middle School focuses on.

There are about 6 different types of chart patterns that you will study in this course.

If you want to reach a Warren Buffet level of trading in forex, knowledge of all these is key to making sure that you can make the best of your skills.

  • Learn to Trade Double Bottoms and Double Tops

As any guru in forex education will tell you, when a trade hits double bottom or double top on the chart pattern, the trend is about to turn on its head.

Forex chart double patterns

Understanding this and many other details about the charts will let you know which times you need to target for good deals.

  • How to Trade the Head and Shoulders Pattern

This is another unique pattern that will appear on your charts.

You will see peaks and valleys that form a shoulder, a head and then a shoulder.

Forex chart double patterns

Know when the price is going your way and then make the trade. There is more to it than just that.

  • How to Trade Wedge Chart Patterns

Nothing is fixed when it comes to a wedge appearing on a chart.

Related Topics

Learn how to identify when you have a wedge and what you can do about it. There is some great advice there about what to do when you are not sure.

The rest of the Important Chart Patterns contain the following things that will be very valuable to you as a trader when you finally decide that you are ready for the FX online market.

  • How to use rectangle chart patterns to trade breakouts

In forex, the rectangle is not just a shape but a pattern found in the charts.

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Find out how this pattern influences the kind of trades that you make or what action you take. They may be like bearish and bullish but the difference is explained in detail as you go further into the content.

  • How to trade bearish and bullish pennants

When the price drops, most traders close online trading for the day and others continue in the hopes that the price will consolidate.

Double Top

These bearish and bullish pennants are the key to finding out how to make the most of a precarious situation.

  • How to trade triangle chart patterns

In this section you will learn about the ascending, symmetrical and descending triangles in the patterns. Knowing what each of the shapes means and what they look like when they appear on your charts will help you aim at a target that is reasonable and achievable when trading.

Forex chart double patterns

It is all about yielding high profits for you.

You will then learn the three main groups of chart patterns;

  1. Continuous chart patterns
  2. Bilateral chart patterns
  3. Reversal chart patterns

NOTE: At the end of this section, you will receive a very comprehensive chart patterns cheat sheet.

Pivot Points

When doing online trading, you will need to learn what forex pivot points for trading as they will show you where the resistance and support levels are.

These points you are required to watch are very similar to those in the Fibonacci levels from the previous course.

Here are some of the things that will learn in this section:

  • How to calculate pivot points
  • How to use pivot points for range trading
  • How to use pivot points to trade breakouts
  • How to use pivot points to measure market sentiment

After these lessons are over, you will learn the three types of pivot points.

They include:

  1. The Woodie Pivot Point
  2. Camarilla Pivot Point
  3. Fibonacci Pivot Point

In summary, all this is the sail on your boat as you head for the forex market.

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Know the points before you start analyzing the charts. It will save you in times of crisis because you will always know what to do.