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.

Read more : http://www.dailyfx.com/forex/education/trading_tips/post_of_the_day/2014/07/11/Pre-Trend-Chart-Patterns-You-Should-Know.html