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Technical Analysis Articles |
Written by Dima Vonko |
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Unlike some of the famous methods, shrouded in myths and invented by some celebrated, charismatic, and enigmatic personalities to whom they owe their popularity, the well-known Head & Shoulders method was neither concocted by any controversial trading guru nor is it promoted by the less lucky in trading offspring of the latter, who opted for the marketing of their great grandfather's dubious legacy having considered the other option of setting up a diners for the local townies round the corner. |
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Technical Analysis Articles |
Written by Dima Vonko |
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No doubt, one of such talentedly developed methods was invented by Dr. Alan Andrews in the beginning of the 1960-s to become one of the simplest, most efficient and reliable technical analysis techniques. So what makes Andrew's Pitchfork a valuable analysis technical tool and what are the benefits and risks one should be aware of while applying this method? |
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Technical Analysis Articles |
Written by Dima Vonko |
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Even in the boisterous world of finance, where there never seems to be a dearth of men of renown, it is rather seldom that figures of this size and reputation appear: Mr. William Gann has been referred to as a trading legend and the most successful trader since the early 1920-s. For the sake of justice, one should mention that probably since about the same time he has been called none other than a lucky marketer of ideas by some others. |
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Technical Analysis Articles |
Written by Dima Vonko |
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The Elliott Wave theory has been a major thing in trading for decades now and, undoubtedly, Mr. Ralph Nelson Elliott should be held in high esteem by all those who trade the markets these days. However, while some steadfast followers consider his theory to be a highly effective pattern recognition technique able to help predict market developments, others are prone to regard Elliott's creation as a commonly used methodology, a brilliantly created means of seeing the recent past of the market, rendering this past with stunning clarity. Who's right and who's wrong? |
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Technical Analysis Articles |
Written by Dima Vonko |
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Just like a vast number of mind-boggling and revolutionary inventions, Candlesticks originate from Japan, where they were initially used by rice traders yet in the 17-th century. This gives the technique an air of Oriental charm, invoking associations with precision, technical eminence, and some innate, hidden ancient wisdom, which, of course, can never fail. |
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Forex Articles |
Written by Ian Copsey |
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Let's get this straight. Technical analysis is a wide ranging group of techniques which obtain information from price action or derivatives of price action and provide indications to the analyst on the expected direction of price. The basic concept that is often said is that it is based on the assumption that market participants will react in the same way to certain events in the market and since these form patterns, once a pattern is recognized it can be projected forward to predict the next move. In a way this is correct but apart from simple pattern recognition it doesn't really explain the concept sufficiently well enough to make it believable. |
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Technical Analysis Articles |
Written by Ian Copsey |
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Is there any such thing as an optimum parameter for any indicator? Not as far as I am aware. Are there any mystical powers about indicators which make them predict the market? No. Let's get this straight. All indicators are lagging. This is intrinsically so since they are all calculated from historic prices and there is categorically no argument to say that price develops in a linear fashion that implies indicators can be used to forecast price. I have not found one that predicts the market. |
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Beginners Tutorials |
Written by ActionForex.com |
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A triple top is the same charting pattern as the double top with an extra relative high that touches the same resistance level. A triple top creates a strong resistance level and a neckline connecting the two relative lows in the middle of the pattern. A trader should enter a short position when the daily candle closes below the neckline of the triple top. |
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Beginners Tutorials |
Written by ActionForex.com |
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The double top formation is a straightforward pattern that is easy to recognize on a chart. One of the features of a market in an uptrend is a series of increasing highs and relatively higher lows. If the market on one of its high points fails to break above the previous high, but instead stalls at the same price, this is an indication that the trend is weakening and may reverse. A double top is therefore a simple horizontal line that connects two relative highs at the same price. |
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Beginners Tutorials |
Written by ActionForex.com |
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The Head and Shoulders pattern is one of the most famous reversal patterns and one that gives a clear signal and entry point. The head and shoulders in an uptrend consists of three relative highs: the first and last peaks are of nearly equal size and are the shoulders of the formation. The middle peak is greater than the other two and forms the head of the pattern. The relative lows in between the head and shoulders form a neckline at the base of the pattern. Once the pattern is completed, the neckline becomes a key support level; the market can bounce off it and reverse, or it can break through it and gather momentum. |
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Beginners Tutorials |
Written by ActionForex.com |
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The following are the three basic tenets about identifying reversal patterns. While they may seem obvious and even simplistic, they are important for successfully using these patterns. A Trend Must Exist - A trend must exist before a reversal of the trend. There can be no reversal if a trend does not exist in the first place. A reversal pattern that follows a large trend will have much more movement to retrace, and so the strength of the move after the reversal pattern will likely be stronger. |
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