The BASIC chart pattern.

Discussion in 'Technical Analysis' started by alex.samant, Jan 16, 2008.

  1. I was wondering.
    All educational materials are talking about chart patterns as being triangles, flags, pennants, wedges, scallops, and so on...

    BUT

    Many of them fail to include the higher high, higher low pattern.

    Are they making a mistake or is this in it's own league?
     
  2. I was looking over a trade that occured just now on the EURUSD (outside my trading hours) and i want to give an example of what i was asking.

    [​IMG]

    This trade was a short EURUSD, we would have still been in the trade with about 1/3 of our initial capital.

    4 hour chart signals a swing low being broken (close below it).

    the 1hour chart shows a clear lower low, lower high pattern

    and

    the 15 minutes shows price being repelled of what i call the "value" level for the day. those who use it, know what that zone stands for.

    the position would have only been taken once price closed below the low of the day as there wasn't any intermediary swing low since that point.
     
  3. :(

    My friend, what ever you look at, no matter what time frame, there will always be the thought in your head, will it work?

    It could be using stochastic, 1/2-3 lows, Rh's or using the moon for entry and exit points.
     
  4. :confused:
     
  5. do you have a problem, or my charts don't make sense to you? it's a big difference from what you posted...

    I raised a serious, coherent question.

    If you don't have anything related to the subject, please get the F!@$ out of here, you moron!
     
  6. and another thing..."my friend"

    i ain't your friend. i don't need advice from you. you are a big fat 0. stick around until your opinions are valued.

    cheers
     
  7. :D :D :D :D :D
     
  8. you don't realize this, but you are truly making a fool of yourself.
     

  9. :eek:
     
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  10. great.
     
    #10     Jan 16, 2008