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Abstract:Consider chart patterns to be a land mine detector; once you've completed this lesson, you'll be able to notice "explosions" on the charts before they happen, potentially making you a lot of money.
You've amassed a formidable array of weapons with which to combat the market.
In this session, you'll learn how to use a new weapon: CHART PATTERNS!
Consider chart patterns to be a land mine detector; once you've completed this lesson, you'll be able to notice “explosions” on the charts before they happen, potentially making you a lot of money.
Chart patterns are similar to the funny feeling you get in your stomach just before you let out a fart.
Isn't it true that you wish you had a chart to help you spot this explosion?
Classic chart patterns and formations will be covered in this lecture.
It generally leads to an explosive breakout when correctly identified, so be on the lookout!
Remember, our goal is to predict large moves before they occur so that we may profit from them.
After all, who wouldn't want to bathe in a pool of money like Richie Rich?
Chart patterns can tremendously assist us in identifying situations where the price is about to break out in a specific direction.
We'll also be designing some smart trade methods for these chart patterns, as they might signal whether the price will continue in its current path or reverse.
In a nutshell, chart patterns assist you in answering the following three questions:
How can I spot probable entry opportunities in a trend that is increasing (or falling)?
What are the ways that chart patterns can be used to provide potential entry signals?
How do I know whether to take profit (if the chart pattern worked) or cut my losses (if the chart pattern failed) and when to get out (exit signal)?
Don't worry, we'll provide you with a handy cheat sheet to assist you remember all of these useful patterns and strategies.
Here's a rundown of the chart patterns we'll be discussing:
Double-bottomed and double-topped
Inverse Head and Shoulders and Head and Shoulders
Wedges that Rise and Fall
Rectangles that are bullish and bearish
Triangles of Bearish and Bullish Pennants (Symmetrical, Ascending, and Descending)
Disclaimer:
The views in this article only represent the author's personal views, and do not constitute investment advice on this platform. This platform does not guarantee the accuracy, completeness and timeliness of the information in the article, and will not be liable for any loss caused by the use of or reliance on the information in the article.
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