Basic Forex Chart Patterns – Part 1

Basic Forex Chart Patterns

SUMMARY

Forex chart patterns allow us to understand emotions of market participants – whether they are looking at continuation or reversal of current price actions. Tflow® uses chart patterns as an input to time entry, however, we do not apply the traditional method of trigger. For example, we short at the top of right shoulder instead of on break of neckline.

How to identify Basic Forex Chart Patterns ?

• Chart Pattern is a leading indicator that warns potential Reversal

• Chart Patterns are most prominent when near to support and resistance

Head and Shoulder (HS)

Double Top (DT)