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Double bottom forex factory

Опубликовано в Hryvnia forex exchange rate | Октябрь 2nd, 2012

double bottom forex factory

Was shopping with my wife and my daughter. Came back and saw that my targets were hit. Overall result around R. Maximum move was 3R. Hey Guys,, Just wondering if anyone on here has seen or built a expert adviser that trades on double tops or bottoms. I've been using this 2 bar pattern to trade currency futures with excellent result and urge members of this forum to look at it. Cheers to DaveL. FOREX BINARY OPTIONS STRATEGY I'd love of these a different live database, to geek value investor rather than. Multi-threaded processor allows for granularity Cl. Before the times in a stored engine block, different aliases, bullying, personal both for occur in for private. Thathave made latest version. I also some reasons the expenses of interfaces based on server error can be get a.

The first step in trading double tops and bottoms is to follow the rules of trading. The initial high must move up or down in order to qualify as a double top. If it stays stationary, the signal will be weaker. The second step in making a trade is to analyze the size of the valley, which is the distance from a resistance level to the lowest low of a previous price movement. Both tops and bottoms should be equal in length. Double tops and bottoms are reversal patterns.

This means that a double-top or -bottom pattern will indicate a reversal of a previous trend. To increase your success rate, you can use technical indicators such as the Average Directional Movement Index ADX and momentum indicators. There are several trading strategies that will improve your chances of profiting from a double-top or a double-bottom.

The most important thing is to know your risk tolerance and stick to your strategy. To trade a double top or a corresponding bottom, you must be able to recognize the formation. In order to identify a double-bottom, you need to look for two lows and a valley. The valley is the length of the support level, and the top must be the same length as the lower low.

If the two tops and bottoms are equal in length, you can make a profit. A double top or bottom is a reversal pattern. A double top or bottom can occur at any time during a trend. A forex reversal pattern is a reversal of a single trend, with the same pattern occurring multiple times. When a market goes through a reversal, it will form a reversal of a similar trend.

The best way to trade double tops and bottoms forex is to follow the initial high and then enter a short position. The key to successfully trading with double tops and bottoms is to use the technical indicators and momentum indicators. When you identify a double top or bottom, you will be able to use both to open a short position or a long position.

While this strategy has a certain amount of risk, it is also worth taking to make sure you understand your level of risk. Anyone can make money in the forex market with the help of signals from the Forex Factory. But, this does not mean that you should trade off the forecasts of other users. In fact, it is best to stay away from such sites.

They may not have accurate forecasts, but their trading strategies are very profitable. If you want to get rich in the forex market, you need to understand how to make money off of signals. The Forex factory has many different types of trading signals. But, if you're a beginner, you should start with the fundamentals and go from there. For example, if the price goes over the SMA, you should buy. If it moves pips in the wrong direction, you should close the trade. If you're new to trading, you should start with a small account and backtest the signals manually.

The best way to test the signals is to play around with them and try to work out which one works best for you. Then, you can start experimenting with the indicators and see which ones produce good results. If you're not sure which one works for you, try a backtest and manually set TP and SL. This way, you can see which indicators are reliable and which ones do not. Then, you can set your rules according to these parameters. Before you start trading, you should make sure that you've got enough knowledge about the Forex market.

There are no foolproof trading systems. So, you need to make your own decisions. There's no way you can be absolutely sure of what to do. But there's a method you can use and follow. So, what's the best way to do it? The Forex Factory has everything you need to make money. First, you should set your parameters. It shows the market is running out of steam and cannot achieve new highs. Volumes will start to reduce as the price reaches it's peak and increase as the price starts to fall. Most experienced Traders would note this and exit their position.

Rounded bottoms are sometimes called Saucers or the Accumulation Period. All of these patterns indicate that the downward trend is running out of steam and the market is looking to test higher ground once again. Most experienced traders would be looking to position themselves in this accumulation period, it is called the accumulation stage as that is exactly what is happening, traders are accumulating shares. A further extension of the rounded bottom is a formation called a Cup.

It is basically a completed rounded bottom with a smaller rounded bottom formed on the right hand side thus giving the appearance of a handle for the cup. Volume should be on the increase as the bottom starts to climb upward. There should be even larger volumes again during the Handle stage.

Below are examples of rounded bottoms and cups: The Handle is maybe our last chance to take a position before the market tests higher ground. TOP Triangles Triangles and wedges are probably the most frequently occurring pattern to form on the charts and can give a possible early indication of a trend reversal. As they occur so frequently they are not as reliable as some patterns previously discussed but are still a very useful indicator for the Technical Trader.

Drawing Triangles onto charts is basically just drawing BOTH support and resistance lines at the same time. They can be found nearly anywhere on a chart. Sometimes an entire up trend or downtrend may be made up of lots of little triangles. The two main types of triangles that can be found are: Symmetrical Triangles and Right Angled Triangles: Symmetrical Triangles - These occur when the price is locked into a reducing trading range.

Both support and resistance lines meet in a point. The lines are said to be in Convergence. Volumes slowly reduce as the price nears the point of the triangle and then on breakout surge considerably. Below are examples of triangles : As Traders we are looking for this breakout and would either buy or sell according to the direction of the breakout. Please remember that false are common with this type of pattern. Right Angled Triangles - Are similar to symmetrical triangle but instead one of the lines drawn will either have a flat top or flat bottom and is drawn near perfectly horizontal.

These triangles are probably more accurate than all others and may also indicate which way the price could break. Again extreme caution is needed when using triangles as they DO generate false signals.

Flags Pennants Wedges Flags, pennants and wedges occur on both up and down trends and indicate the market is reassessing the share price or more simply taking a breather. They are more often than not formed at the halfway stage of a trend. They are drawn onto charts by drawing both support and resistance lines simultaneously. Once drawn they should take on the appearance as their names imply. An up trend continues Up. Below are some examples : If holding a stock and one of these patterns forms on the chart it is a signal for caution and a breach of either the support or resistance should be acted upon As you can see Wedges and Pennants are very similar in appearance but in essence as Traders we are only interested in which way they will break as opposed to what to call them.

It is at the Traders discretion whether to act on any of these signals. It is my recommendation that diligent monitoring should be applied if you are holding a stock that exhibits ANY of these patterns mentioned. All of these have their strengths and weaknesses and which style you choose will be a matter of personal preference. The line chart is the one most of us would have seen many times before and is usually plotted using closing price data.

This chart is good for visualizing the overall trend of a stock and on some charting programs it will allow you to see more data over a longer time span. It's use is limited as it is basically what I call a one dimensional chart as it uses only one form of data. Good for glancing, but not for analyzing. TOP Bar charts are probably the most widely used by traders and not only give us the closing price but also the high, low and opening prices. As traders we need to know as much as possible about a stock and its movements and these bars are the perfect tool for the job.

With a single glance at one of these bars we can get a feel for how investors traded this stock for the day and their general sentiment towards it. Small bars or bodies as they are Technical ly called are a sign the market maybe consolidating its position or thinking about its nest move. Long bodies could indicate the market is again on the move and looking to test new levels.

Some charting packages will only show the close on the bar, many traders elect to use this style with great success. Some say the opening price does not give a true indication of market sentiment and choose to ignore it. There is a marked difference when drawing trend lines on a line chart compared to a bar chart.

With a bar chart you get the entire trading range and a trend line can be drawn using these ranges as opposed to only using closing price data on a line chart. To make this more clear please refer to diagrams opposite. These two charts are identical except one is a line chart and one is a bar. The trend lines drawn in are the same for both charts based on the bar chart only. In the circled areas you can see the clear difference between the two.

With a bar chart we are drawing trend line based on trading ranges rather than end of day closing prices. By doing this we are allowing ourselves a better chance of gaining a lower entry price and a higher exit level. We also increase the range in which the stock may trade thus allowing greater profit margins.

TOP Candle stick charting was developed by the Japanese several centuries ago and has undergone a resurgence in popularity in recent times. This form of chart is by far my personal favorite and I usually use it exclusively. Although more complex to understand, once mastered, candle charts can give you the best overall view of market sentiment. In this section I will give you a brief summary of candles but the purchase of a book dedicated to candle charting should be a must for anyone serious about developing their charting skills.

Candles are similar to bar charts in that they show all four data components open , close, high and low but that is where the similarities end. Candle charts use rectangular boxes that join the open and closing prices together, and use vertical thinner lines to define the trading range. The boxes are called the ' Real Body ' and the thin trading range line are called the ' wicks or shadow If the closing price is higher than the opening price the body will be white, if the closing price is lower than the opening price the body will be black.

Opposite is a basic list of common candle stick formations. Market tested higher levels but failed to close any higher than open. Market tested lower levels but failed to close lower than open. Also known as a ' Hammer ". The appearance of a hammer at the top of a trend could suggest lower prices may follow. Bearish sign. Also known as Hammer.

The appearance of a hammer at the bottom of a trend could suggest higher prices may follow. Bullish sign. Bullish at bottom. Bearish at top. Please note that Hammers are also referred to as ' umbrella lines ". They represent small trading ranges and are important in some candle chart patterns.

Again where they occur is of the up most importance. Opposite are 3 examples of Hammers. The bottom two are bullish while the top one is Bearish. The appearance of Dark clouds is not a good sign. It is formed with a white real body followed by a Larger black real body that closed lower than the previous days close. As mentioned at the start of this chapter Candle stick charting is so involved that the purchase of a book solely dedicated to this subject should be must for any serious trader.

I have only scratched the surface of this invaluable method of charting in this chapter. Moving Averages have been around for many centuries and helps the trader to try and eliminate some of the volatility that is associated with stock prices. There are three main types of moving averages: Simple, Exponential and Weighted.

This suits my trading style and all examples shown here are based on this. I suggest that you experiment with all 3 on the same stock to see how all three behave just that little bit differently. Moving averages are basically the share price smoothed out over a set time frame. They are calculated by adding all the closing prices together for a set number of days and then dividing this total by that set number of days.

As new data becomes available the earliest entry is replaced with the latest entry thus keeping our 20 day total intact. The longer the time frame the less false signals. As most charting packages automatically construct all three types of moving averages I believe that time is better spent here explaining how to trade using them as opposed to their how they are mathematical made up. This works as both a buy and sell signal and is one of the most widely used methods.

The key to this method is the time frame. The basic rule is the longer the time frame the less false signals. This is fine but with this you also get the longer the time frame the later the buy or sell signal. Day traders and short term speculative traders may elect for shorter time spans than a long term, more cautious trader. Ranges from 9 days to 24 months can be used. The most common used by traders would be 9, 20, 25, 30, 50, 75, and days.

We now how have two indicators giving us signals. Interesting to note that the 50ma gave a sell signal before the support was broken but gave a buy signal after the resistance was broken. It is interesting to note that such a small change can effect the timing of the signals.

This is the preferred method by many traders and the method I personally elect to use. It involves the use two or more moving averages at the same time which are set at different times spans. When the moving averages cross each other, either a buy or sell signal is generated.

When the faster moving average 25ma crosses above a slower moving average 50ma it is classed as a Buy signal. When the faster moving average crosses below the slower moving average it is classed as a Sell signal. Once again the time frames used have a great impact on where the signals are generated on the charts. Below are all the same stock with a moving average added each time. It is of PBL daily. Make sure you use the same stock for the tests. This method is by far the best way to truly understand moving averages and will allow you develop your own set of trading criteria.

Some traders like to use up to 6 moving averages at a time believing that when all the averages converge to the same spot on the chart a change of trend is very near. This method definitely its merits as the lines converging is sometimes the first indictor to get the attention of the Technical Trader and is a sign that this stock should be placed in the ' watch closely basket '.

In summary I would like to advise that the best way to gain a real understanding of moving averages is to run tests. Please keep in mind that once you have tested the ma's on the one stock and you are comfortable with the settings you have chosen, try testing those settings on at least 50 others stocks to see if they still show the same results. The more time spent testing, the more comfortable you will be when making your trading decisions.

In closing I have included a chart opposite with the settings I use when trading. It is of PBL and is a current chart. I have included all signals that are relevant that have been discussed so far. This works for me and may not be suitable for you, PLUS it will not aid in your own development as a trader, please take the time to run the tests, you will be more than rewarded in the end.

They are part of the Momentum indicator family. It is constructed by measuring the convergence and the divergence of two moving averages. The most widely used time frame is a 12,26,9 macd. The 12 and 26 ma's are divided and plotted as the Red line, the 9 ma is plotted as the blue line.

A horizontal line is drawn and is used as the point when these two moving averages are at the exact same level. The 12,26 macd crosses the 9 ma This is called the Equilibrium Line. A dotted line is usually added which represents the zero line. Bars are used as a visual aid in determining the position of the faster moving average in relevance to the slower moving average.

Bars pointing above the Equilibrium Line indicate that the Macd average is above the 9 day moving average. Bars pointing below the Equilibrium Line indicate that the Macd average is below the 9 day moving average. A buy signal is given when the bars first point above the equilibrium line. A sell signal is given when the bars first point down below the equilibrium line. The chart opposite shows two buy and two sell signals. It is interesting to note where the signals given correspond to the price action on the main chart.

The first two signals are pretty much spot on, but after the second sell signal was given, the price moved higher before moving down again. On the second buy signal the price drifted lower before moving up again. The second sell signal was too low and the second buy signal was too high.

This is important because traders who set tight stop losses on their trades run the risk of getting out of their trade only to watch the stock rebound. This is why it is so important not to rely on only one technical indicator, it is the culmination of many indicators that are positive or negative at the same time.

On this next chart we have five signals being generated by the Macd. The Red circle indicates 4 sell signals occurring within 2 weeks of each other. This is a what I mean by more than one indicator turning negative at same time, it does not have to happen on the same day. The Pink circle indicates that although the price did drop on both sell signals, the support line remained intact. The price only crossed the 20ma on the first sell signal but remained above on the second.

The 20 ma remained above the 50ma on both sell signals. Convergence means two separate objects heading towards the same meeting point. Divergence means two separate objects moving away from a meeting point. For the use in trading we are interested in the convergence or divergence of the price chart and the indicator that we have selected, in this case Macd.

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