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Pattern forex pdf
while the pattern is still intact. While you can trade these on the 4-hour time frame, in my experience the most lucrative trade setups form on the daily time frame. The first and perhaps most prevalent is trying to force support and resistance levels to fit. The Head and Shoulders (and Inverse). However, by adding bull or bear to the designation, were giving it a directional bias.
But more than that, it can be quite easy to spot and extremely profitable when you know what to look for and how to trade. The first is perhaps the most obvious never cut off the highs or lows in order to make the channel fit.
While a break of the trend line (if one exists) may trigger a change in trend, it does not fit the criteria to be called, or traded as, a head and shoulders pattern. Notice how the two points above dont match up with support and resistance. However, the last year of trading has produced a new winner in my book. Now It's Your Turn. The main feature of trend reversal patterns is that they provide information both on the possible change in the trend and the probable value of price movement. These are called anchor stores.