This strategy is designed to profit on joining already existing trends in the market and rests on two indicators developed by Welles Wilder — a great technical market analyst and inventor of technical indicators.
The indicators we will use for this strategy are the period ADX and the Parabolic SAR, both widely popular and extensively used in trading the markets. Trading chart patterns is about profiting from repeated occurrences in the markets that are known to yield a certain kind of results over and over again. The flag and the wedge are two very popular chart patterns among traders, and they both have their bullish and bearish versions.
A pullback occurs whenever a breakout occurs at a strong resistance or support level trendline or any chart formation and then the market moves in a direction that goes against the general trend and the original breakout to retest the level of the support or resistance level or chart formation once again. Triangles are chart patterns that most of the time form in sideways markets as part of the consolidative process. The head and shoulders pattern is a highly reliable reversal pattern that very often, once completed and confirmed will mark a major turning point in the market.
The appearance of the pattern faintly resembles a head and shoulders outline hence the name.
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For trading the pattern in the Forex market the implications, rules, and strategies work exactly the same for both the bullish and the bearish versions of the pattern, so everything can be used interchangeably only, of course in the opposite direction. This is one of the most advanced indicators available to retail traders. It is based on a state-of-the-art Forex trading algorithm that is specifically designed to identify high probability price movements. Trendline Reversal Forex Trading Strategy.
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Growing a small account isn't necessarily about taking high-risk trades. There are many other ways that you can grow your account. Learn what they are here. There are a lot of RSI trading strategies available on the internet.
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But which ones actually work? In this post part 2 , I give you 3 RSI trading methods, with exact plans. In part 3, I'll show you the testing results. If you are tired of missing out on profits after you close a trade, then this post is for you.
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Hedging can be a four-letter word to some traders. But when used correctly, hedging can provide a lot of flexibility, without some of the headaches that come with traditional directional trading. Read this blog post to learn how A consistently profitable strategy is actually developed in three stages.