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Friday, 30 July 2010
Chart Patterns V: Triple Tops and Bottoms
Written by Administrator   
Saturday, 13 September 2008

 

A triple top is the same charting pattern as the double top with an extra relative high that touches the same resistance level.

A triple top creates a strong resistance level and a neckline connecting the two relative lows in the middle of the pattern.

A trader should enter a short position when the daily candle closes below the neckline of the triple top.

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Chart Patterns VI: Saucers
Written by Administrator   
Saturday, 13 September 2008

 

The Saucer Bottom is a very slow developing pattern that does not have a clear entry point in most cases. It becomes the foundation for a long term uptrend,

but it often gives no direct signal to buy.

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Chart Patterns VII: Triangles
Written by Administrator   
Saturday, 13 September 2008

 

Continuation Patterns are patterns that exist within a trend at prices where the market consolidates before moving on in the direction of the original trend.

There are several main consolidation patterns, all of which follow the same simple rules.

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Chart Patterns VIII: Descending and Ascending Triangles
Written by Administrator   
Saturday, 13 September 2008

 

Descending Triangles

The descending triangle is a triangular consolidation zone that has a hypotenuse sloping downward at the top of the triangle.

Beneath the hypotenuse is a straight trend line.

 

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