Classic Double Top, Bear Flag & 5-0 Pattern lined up all-in-one. What could it signify? Am I just transposing an image onto a market that is not really a reflection of reality? Let's see.
Short NDUSD:
Reasons:
Do chart patterns work? Well, they certainly gives the trader a disciplined method for attacking the markets. Chart patterns can prevent the trader from overtrading. Certainly, if a chart pattern confirms something fundamental or if one believe it confirms something from sentiment or intermarket analysis, then go for it with proper risk management.
Short NDUSD:
Reasons:
- Classic Double Top, Bear Flag & 5-0 Pattern lined up together
- volume confirmed the double top
- Intermarket confirmation: It appears as though the US Dollar has found support and will rally: s3.amazonaws.com/tra...shots/2/2zTBJuLC.png
- Inside Bars on the 8 hour chart. Thus, expect a volatility expansion:
- MACD Divergence
Do chart patterns work? Well, they certainly gives the trader a disciplined method for attacking the markets. Chart patterns can prevent the trader from overtrading. Certainly, if a chart pattern confirms something fundamental or if one believe it confirms something from sentiment or intermarket analysis, then go for it with proper risk management.
Capturing the swings of the stock market & currency market. It's a dirty job and equity/currency traders must do it.