| ||||||||||||||||||||||||||
| ||||||||||||||||||||||||||
Triangle identified at 19-Jan-19:00. This pattern is still in the process of forming. Possible bearish price movement towards the support 0.8884 within the next 2 days. Supported by Downward sloping Moving Average |
Forex and stock traders are looking for the consistently wrong investor, trader and take the opposite position. This will obviously lead to winning trades for them. All traders have read trading books that point out that increasing volume is good for the continuation of the trend. Many new stock traders will try and fight the trend.
| ||||||||||||||||||||||||||
| ||||||||||||||||||||||||||
Triangle identified at 19-Jan-19:00. This pattern is still in the process of forming. Possible bearish price movement towards the support 0.8884 within the next 2 days. Supported by Downward sloping Moving Average |
| ||||||||||||||||||||||||||
| ||||||||||||||||||||||||||
Descending Triangle identified at 19-Jan-22:00. This pattern is still in the process of forming. Possible bearish price movement towards the support 0.7659 within the next 2 days. Supported by Downward sloping Moving Average |
| ||||||||||||||||||||||||||
| ||||||||||||||||||||||||||
Channel Down identified at 18-Jan-17:00. This pattern is still in the process of forming. Possible bearish price movement towards the support 0.8884 within the next 3 days. Supported by Downward sloping Moving Average |
| ||||||||||||||||||||||||||
| ||||||||||||||||||||||||||
Channel Down identified at 18-Jan-20:00. This pattern is still in the process of forming. Possible bullish price movement towards the resistance 1.0815 within the next 2 days. |
The big advantage to technical analysis. Technical analysts were able to arrive at actual price targets for the crash, in real time, while it unfolded. Fundamental analysts knew it was "gonna be bad!" but that type of analysis doesn't help time the market with a large degree of accuracy. This is why the majority of fundamental analysts don't even try to time the market, except in broad strokes; their system is ill-suited to it. Elliott Wave Theory. One way to look at it is that the Elliott Wave is a unique way to understand why the market does what it does, and a detailed tool that allows us to project future price moves by extrapolating the fractals and patterns found on the charts.
How To Trade Forex Using Support and Resistance Levels