You’d be hard pressed to find a formation as ubiquitous as the double bottom or double top, often labelled ‘M’ tops and ‘W’ bottoms for visual reasons. Spend a couple of minutes looking at just about any candlestick/bar chart and numerous W and M patterns are immediately obvious. As a matter of fact, the pattern … Continue reading An Introduction to Double Bottom and Double Top Patterns
Updated July 2020 Support and resistance, or market structure, is considered a foundation for most trading strategies. Several methods exist to identify support and resistance levels. One approach, however, calls for attention: the Quasimodo pattern, or QM. The QM is a straightforward configuration, offering both bullish and bearish scenarios. As demonstrated in figure A, you … Continue reading The Quasimodo Pattern
The past decade witnessed a new type of trading strategy surface that has become widely popular with forex traders. The energy behind supply and demand zones is well documented. The problem, however, is many traders fail to recognise the subtle nuances that help determine an area’s strength. The basics In a nutshell, supply and demand … Continue reading Supply and Demand: Learn to Identify POWERFUL Reversal Zones
Viewing a chart for the first time is generally both hypnotic and perplexing. Price action, or ‘PA’, is a term employed to note the movement, or ‘action’, of price on a chart for a given market. A chart, for those new to trading, is simply a graphical representation of historical price movement over a selected … Continue reading Price Action: A Beginner’s Guide
