FOREX and Price Patterns

[rtsurvivor]

I'm a price pattern trader from somewhere way back in time. I've taken the basic chart patterns, 123UP & 123Down, Bull/Bear flags, and made the best of them on any time frame.

The chart below shows a recent series of patterns that are very easy to spot and trade.

I forgot to include the indicators I use on the chart to qualify the patterns but these are valid 123UP patterns.

there are a lot of exotic price patterns used but I prefer the simple basic ones. :whistling

Good trading to all
RT... 😎

 

[caprica1]

good results rtsurvivor. It's obviously not always this good I take it 😉

 

[rtsurvivor]

I should have included the indicators that qualify trades like these. I also didn't mention the "BULL FLAG" (in this case) that usually accompany these trend reversal type moves. In this case you need indicators showing strength (converging) and not diverging from the prices.

I'll clarify that a bit. The indicators will diverge from price in the down leg and then gain strength as the #2 trigger point is approached.

One of the indicators I favor is the MACD.
MA= Moving Average
C= Converge -- Move with the price bars, Showing strength in the move
D= Diverge -- Move opposite the price bars, Showing weakness in the move

I don't use these type of indicators as enter / exit trades but only as a tool in the trade.

But yes, you are right. It's not this good every time. The only thing I know of that "ALWAYS HAPPENS" in the markets is "The Brokers Get paid" 😎 Whether you win or lose, the brokers always get their cut; and that's ok. Without them we couldn't do what we do. 😴

Good trading
RT... :idea:

 

[doberman]

Rtaurvivor is you time frame all ways 15min on the 123

 

[rtsurvivor]

The good thing about the patterns doberman is that they work very good in just about any time frame. The 15' is nice because it doesn't take forever to complete the pattern.

Altho, you can put in a GDC order and it takes care of its self. That can be either a stop or limit order, which ever one work.

Sorry, but sometimes i forget to include all that can be done for this type of trading. 🙄

Good trading
RT... :idea: