What Chart Patterns Should I Trade with in Forex Day Trading?
The top ten forex chart patterns that every trader should know & trade with. The most oftenly used chart patterns that forex traders should trade with are:
1. Reversal Trading Patterns
- Double Top Patterns
- Double Bottoms Patterns
- Head & Shoulders Patterns
- Reverse Head and Shoulders Patterns
Reversal Patterns confirm the reversal of the market trend once this reversal chart patterns setup is confirmed. These reversal chart patterns are formed after extended market trend either upwards or downwards & these patterns signal that the forex market trend is ready to reverse.
Reversal Chart Patterns Explained Guides
Double Tops Chart Patterns & Double Bottom Chart Patterns
Head & shoulders Forex Chart Patterns & Reverse Head & shoulders Chart Patterns
2. Continuation Trading Patterns
- Ascending Triangle Patterns
- Descending Triangle Chart Patterns
- Bull Flag/Pennant Patterns
- Bear Flag/Pennant Patterns
Continuation Patterns are formations that set up the market for a trend continuation move in direction of the prior Forex trend. These continuation patterns are formed when the market is taking a pause before continuing in same direction of the previous Forex trend.
Continuation Patterns Described Guides
3. Bilateral Forex Trading Patterns
- Symmetric Triangle - Consolidation Patterns
- Rectangle - Range Forex Chart Patterns
Consolidation Patterns form when the forex market is taking a break before deciding the next direction to take. When these consolidation chart patterns are formed the market is trying to decide which direction to trade.
Consolidation Patterns Described Guides
Trading Forex Using Patterns - What Chart Patterns Should I Trade with in Forex Day Trading?
