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Fibonacci II: Sample Fibonacci Trades |
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Written by Administrator
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Friday, 03 October 2008 |
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The charts below show sample trades using the Fibonacci retracement.
GBP/USD was going on an up-trend from November 2003.
During an
up-trend, traders would look for pullback and buy in. In January 2004,
GBP/USD reached its first top at 1.8580 and started pullback.
The
pullback was until 1.7820 which was the 38.2% retracement of the
up-trend. A bullish engulfing pattern at the 38.2% retracement level
confirmed the pullback.
The trend resumed its upward momentum and
reached 1.9140 in Feburary.
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Chart Patterns I: Introduction to Reversal Patterns and Continuation Patterns |
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Written by Administrator
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Saturday, 13 September 2008 |
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There are two major ways to trade the financial markets: swing trading
and trend following. Swing traders use technical analysis to look for
short-term price movement
and capture gains in a relative short-term
period.
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Read more...
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Chart Patterns II: Rules for identifying Reversal Patterns |
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Written by Administrator
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Saturday, 13 September 2008 |
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The following are the three basic tenets about identifying reversal
patterns. While they may seem obvious and even simplistic, they are
important for successfully using these patterns.
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Read more...
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Chart Patterns III: Head and Shoulders |
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Written by Administrator
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Saturday, 13 September 2008 |
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Head and Shoulders Pattern
The Head and Shoulders pattern is one of the most famous reversal
patterns and one that gives a clear signal and entry point.
The head
and shoulders in an uptrend consists of three relative highs: the first
and last peaks are of nearly equal size and are the shoulders of the
formation.
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Read more...
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