Menu
Brokers
MT4 Forex Brokers
MT5 Forex brokers
PayPal Brokers
Skrill Brokers
Oil Trading Brokers
Gold Trading Brokers
Web Browser Platform
Brokers with CFD Trading
ECN Brokers
Bitcoin FX Brokers
PAMM Forex Brokers
With Cent Accounts
With High Leverage
Cryptocurrency Brokers
Forums
All threads
New threads
New posts
Trending
Search forums
What's new
New threads
New posts
Latest activity
Log in
Register
Search
Search titles only
By:
Search titles only
By:
Menu
Install the app
Install
Reply to thread
Forums
Forex Discussions
Technical Analysis
The Best Forex Patterns
JavaScript is disabled. For a better experience, please enable JavaScript in your browser before proceeding.
You are using an out of date browser. It may not display this or other websites correctly.
You should upgrade or use an
alternative browser
.
Message
[QUOTE="contest, post: 27473, member: 15036"] [B][COLOR="Red"]The Best Forex Patterns Technical analysis of currency market[/COLOR][/B] The below chart is the CHFJPY chart in 1 h which is a good educational example to show a technical analysis with a high accuracy. There is a non-ideal harmonic pattern of AB=CD with 161.8 and 78.6 which is look like an ideal pattern. Simultaneous existence of different techniques and other analyses prove the accuracy of this technical analysis. The important point here is that, this pattern is formed from a descending trend and it is possible that this pattern is the reformed form of its descending form and thissupposition increases the possibility of another descending trend. [COLOR="Red"]Points to remember:[/COLOR] 1. You should always check the last point of harmonic patterns, point D, and also using Candle stick technical analyses are helpful for this purpose. At the end of this pattern usually form a Shooting Star candlestick pattern which shows that the buyers are not successful to reach higher goals and so they retreat. 2. In the below picture, the red horizontal line is drawn from a very important price support linewhich was a resistance level in the time of completion of the AB=CD pattern (because to the breaking of the line and passing of the price). End of AB=CD pattern is near to this line and gives hope to the sellers that it will block raising of the price.( remember that due to the variety of the brokers’ pricing data point D would touch this line in some of the brokers). 3. Among the reversal rations, Fibonacci 50 is one the most important reversal ratios to reform the price which usually forms in the charts. The end of AB=CD locates in level 50 of its previous descending trend, thus, the possibility of formation of a top for the price is twice. [COLOR="Blue"]Written by the analytic team of FXMIM Company[/COLOR] [IMG]http://www.earnforex.com/forum/attachment.php?attachmentid=2186&d=1334808837[/IMG] [/QUOTE]
Insert quotes…
Verification
Post reply
Top
Bottom
This site uses cookies to help personalise content, tailor your experience and to keep you logged in if you register.
By continuing to use this site, you are consenting to our use of cookies.
Accept
Learn more…