Monday, December 15, 2014

Crudeoil positional analysis 15.12.14 Update I

Pre-Trend Chart Patterns Every Trader Should Know: Part I

Talking Points:

Benefits of Pattern Recognition
The First Pre-Trend Pattern: Zig-Zag
Setting Stops & Profit Targets

“…markets are chaotic in nature, but within this chaos are non-random patterns that repeat and are predictable” -Larry Pesavento,

Some traders love to look for common price action patterns before entering in the direction of the overall trend to improve the risk: reward ratio. Others however, prefer to steer clear from patterns and focus solely on price action. However, the two are not mutually exclusive and can be combined for a powerful trading combination whether you’re swing trading or day trading.

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