Observing sharp moves form in the foreign exchange market followed by periods of consolidation is common viewing. The problem traders have, though, is deciphering whether the pause in market price is the beginnings of a reversal, or a pullback before proceeding on its initial course. A chart pattern that places a framework around this type … Continue reading Trading the Forex Market Using Bullish and Bearish Pennants
Nowadays, you’d be hard pressed to go a day without reading or hearing about cryptocurrencies, and for good reason! 2017 proved to be the year of cryptocurrencies, with many units reaching unprecedented growth, smashing record after record. With its understandable rise in popularity, a world once ruled by Bitcoin has seen a new band of … Continue reading Getting smart with Cryptocurrencies
Developed by Scott Carney and Larry Pesavento, after being originally discovered by H. M. Gartley, the AB=CD pattern has become an effective technique to have in one’s toolbox. After months of research, back testing and also live trading, we feel comfortable presenting this setup to our readers. Just to be clear, the following is not … Continue reading What is an AB=CD pattern?
Unlike support and resistance levels, trendlines are drawn at an angle. These widely used technical lines are, first and foremost, used to determine the trend. By drawing these lines one can establish whether a market is in the process of rallying north (an uptrend), dropping south (a downtrend) or in the phase of a consolidation. … Continue reading How to identify trendlines