Winning Forex Trading/Technique for Newbies and Pros (Part 6)

elkapons By elkapons, 20th Oct 2015 | Follow this author | RSS Feed
Posted in Wikinut>Money>Forex Trading

Winning Forex Tradings for newbies and pros, learn the basics and step by step strategies from ZERO to HERO

The Basics (Trend Lines)

The article before talk about identifying market trends, which is there are 3 types of market trends uptrend, downtrend and sideways. In this article will be talk about trend lines that highly related to the article before.

Why trend lines is very important?

By drawing the trend lines a forex trader will see if any changes in current trends in which give the forex trader next directions either it is a continuous or reverse trends. Besides, the trend lines also indirectly shown if any chart patterns formed. Therefore, the pattern provides a forex trader bigger views for current trends and also provides a convincing trade.

The Chart Patterns

Frankly, I really cannot remember the chart pattern names but usually the chart patterns formed a triangle shapes whether the pattern names ascending or descending triangles, rising or falling wedges I never care. What I understand only a triangle pattern.

look at pictures attached for a clear views on trend lines and chart patterns. By getting clear views of the trends and patterns a forex trader indirectly see next entry point, profits target and stop loss.

closely for next articles. There will be more REVEALS and EXCITEMENTS, PROVES a NEWBIES that starts from ZERO can be a HERO.

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