Talking Points: A Double Bottom is formed when price tests a previous low and bounces.Buy orders can be placed just above previous low.Limit orders can be set at most recent swing high, stop set 33% of limit distance. With the Forex market showing low levels of volatility, there is a greater likelihood that prior support and resistance levels will hold when price tests those levels again. Because of this, trading a range bound strategy might yield better results, ...
Talking Points: Recap of the Zig-Zag & The Study of CorrectionsThe Second Pre-Trend Pattern: TrianglesSetting Stops & Profit Targets “All patterns fail, but the key is to know when to trade them and when to avoid them.” -Suri Dudella Trading patterns can be seen as a short-cut to in-depth technical analysis. You were recently introduced to the first type of corrective trading pattern known as a 3-wave correction or zig-zag, which commonly plays ...
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