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Head and Shoulders PatternHead and Shoulders Pattern is a reversal market trend formation which presents 3 main characteristics that can considered as a strong market uptrend, 2 shoulder having approximately the same height and a pick which higher than the shoulders, located in between called the head, once again, one of the main point here remain the importance to observe the formation of the whole set in order to identify that all the ingredients that compose the head and shoulders are in place in order to take a decision for placing a trade
TVC:DXYEducation
by Salmanmemon786
Support and Resistance just does not workI heard support and resistance does not work. I decided to show just how wrong that is. This is an over simplification of S&R and I use a number of other indicators to create winning trades. However if all you did was follow the simple instructions you will see S&R certainly does work. In fact if you look at most of my charts I draw boxes where I see S&R. It is amazing how often price turns in these boxes. So if someone tells you support and resistance does not work I would suggest they just don't know how to use it properly. Okay it is not nearly that easy. Trading takes time and effort to learn. Look at this as another tool in the trading tool belt. Sometimes I use S&R, sometimes wave patterns, sometimes Fibonacci sometimes all of the above. I also keep an ear to the ground, did you know the UK was thinking about leaving the EU? Yes it is true. Maybe this is a week I will sit on the sidelines or take small positions in unrelated currencies. My point is there are as many ideas of how to trade as there are traders. Many of them work! Find what works for you and your mind set. If you want to know more about how I define support and resistance please feel free to ask. The operative word is free. Remember what I give you may not be worth more than the cost, that is for you to decide. On the other hand if you pay a lot for something it does not necessarily mean you get value. Educate yourself, create a trade plan, validate your trades with others traders ideas. Be responsible for your own decisions and trades.
Education
by nahidik
It looks simple but it does so much for you...Since this is the first "KS Method" trade this week, I thought that it would be helpful to go through the elements of the trading checklist and see why we do each of them. The KS Method is easy at face value but it has so much in it so just learning and applying it will do so much for your results. Please do not trade with me this week for the pips. We can do better using all of the PanOptic Method. Trade with me to get a hands on feel of why and how I do this. Good luck
Education
by Ichimoku_Trader
82
Do you know you pattern well? Part 3.the beginning is on the chart above)) Also to trade successfully with discipline you need to know your patterns statistics. What is the accuracy ratio? What is the largest drawdown? What is the average loss? What is the average win? What is the profit factor? What is the expectancy? What is the average risk to reward ratio? If you don’t know the statistics you will inevitably self-sabotage yourself and deviate from your trading strategy. And now the reasonable question comes. Do you know the answers to ALL of these questions? If not then you are most likely consistently losing money trading instead of generating it. Do you want me to fix this problem in a blink of an eye? Do you want me to tell you what you need to do to stop losing money? . Some of you maybe already guessed the answer. The answer is: Stop trading immediately. First, find the answers to ALL of these questions (I probably enumerated 50-55 of them). How can you get the answers? Read in my nex edition. I will give you the three ways to do it))
Education
by Alexander_Nikitin
3