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    Thread: Let's Practice Chart Patterns With Real Time Charts!

    1. #1
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      Default Let's Practice Chart Patterns With Real Time Charts!

      Another one from the series!

      The goal of the forum has shifted from general forex discussions into more of a hub for information regarding forex trading and business too (particularly in the Forex Encyclopedia section) so we're going along with the new objective!

      So in this thread we will discuss about chart pattern that we find on the chart, it could be in many pair that the members submit here so we have no limitation regarding the pair selection.

      Make sure no chit chat or general discussion going on in here, ok?


    2. The following 6 users say Thank You to PhantomTrader79 for this useful post.

      Aisha MA (05-08-2018), Arief Makmur (06-04-2018), Unregistered (3), ZAiminathi (05-08-2018)

    3. #2
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      Default



      GU daily TF

      The market already finished the M pattern and it's heading down so in this case we must wait for another pattern to form to trade the bounce of the breakout.



      EU daily TF

      The market just broke out from the rectangle pattern after being there since January 2018. Currently, there is no pattern in sight but a potential tiny rectangle might form because there is already an inside bar pattern there.



      UJ daily TF

      Price just broke out of the flag pattern there and currently it has the potential to build a megaphone pattern with the rejection to go down as showed by the pinbar on Friday's candle.



      NU daily TF

      Also the same as it just broke through the big rectangle pattern. We're weaiting for something to form because it already arrive at an area where a small flag pattern formed on the left.



      UCAD daily TF

      Price is currently in small megaphone pattern and we might see a breakout from that pattern this week. Wait for the close above or below the barrier of the pattern for a breakout pattern. If the price go up then the target is pretty big compared to if the price go down. But let's wait for the clues from the market.


    4. The following 9 users say Thank You to PhantomTrader79 for this useful post.

      Aisha MA (05-08-2018), Hsuforex (05-18-2018), Salleh Ibrahim (09-10-2019), Unregistered (5), ZAiminathi (05-08-2018)

    5. #3
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      Default

      Quote Originally Posted by PhantomTrader79     


      GU daily TF

      The market already finished the M pattern and it's heading down so in this case we must wait for another pattern to form to trade the bounce of the breakout.



      EU daily TF

      The market just broke out from the rectangle pattern after being there since January 2018. Currently, there is no pattern in sight but a potential tiny rectangle might form because there is already an inside bar pattern there.



      UJ daily TF

      Price just broke out of the flag pattern there and currently it has the potential to build a megaphone pattern with the rejection to go down as showed by the pinbar on Friday's candle.



      NU daily TF

      Also the same as it just broke through the big rectangle pattern. We're weaiting for something to form because it already arrive at an area where a small flag pattern formed on the left.



      UCAD daily TF

      Price is currently in small megaphone pattern and we might see a breakout from that pattern this week. Wait for the close above or below the barrier of the pattern for a breakout pattern. If the price go up then the target is pretty big compared to if the price go down. But let's wait for the clues from the market.
      I also love pattern, thanks for inviting me to this place.
      I will try to contribute what I can about this subject.
      I also already used the lightshot like you told me, it's a good software to make screenshot from chart.



      EU is moving in the pattern above so we must wait for the breakout and it can happen anytime.
      Just enter when price is outside of the pattern. If you enter buy then the stop loss is the highest or lowest point before.



      GU is also doing the same, so the break out is what we waiting for.


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    7. #4
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      Default

      Patterns are good for trading because you know that when a pattern occur the market will break out from it sooner or later. So all you have to do is just wait for it to break out and enter the market with some good stop loss placement to maximize your profit and of course, minimize your loss.





      [IMG][/IMG]













      Enjoy your weekend guys!

      PS: the charts that I posted are using D1 time frame so it can still be used until next Friday.
      Last edited by PhantomTrader79; 05-18-2018 at 03:33 AM.


    8. The following 7 users say Thank You to PhantomTrader79 for this useful post.

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      Default

      Quote Originally Posted by PhantomTrader79     
      Patterns are good for trading because you know that when a pattern occur the market will break out from it sooner or later. So all you have to do is just wait for it to break out and enter the market with some good stop loss placement to maximize your profit and of course, minimize your loss.





      [IMG][/IMG]













      Enjoy your weekend guys!

      PS: the charts that I posted are using D1 time frame so it can still be used until next Friday.
      I fully agree with you I consider price patterns one of the simplest ways of analysis, but its results are very good,

      this an ascending channel pattern(NZD/USD-30M) and I expect the price to fall to the nearest support level after the breakout so let's see whats gonna happened


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    11. #6
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      Default

      Quote Originally Posted by PhantomTrader79     
      Patterns are good for trading because you know that when a pattern occur the market will break out from it sooner or later. So all you have to do is just wait for it to break out and enter the market with some good stop loss placement to maximize your profit and of course, minimize your loss.





      [IMG][/IMG]













      Enjoy your weekend guys!

      PS: the charts that I posted are using D1 time frame so it can still be used until next Friday.
      Here's another dose of patterns for you pattern traders:





      As usual, because the charts are in D1 TF then they are still valid for at least a week.



      Have a great weekend!


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    13. #7
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      Default

      Tips on drawing patterns:
      1. patterns are not subjective
      2. there are 2 types of pattern in general, the ideal patterns and the deformed pattern
      3. spotting the non-ideal patterns (deformed) takes time and practice

      Tips on how to trade patterns:
      1. patterns are a combination of candlestick that form a repeatable design
      2. using pattern means we trade the breakout from that pattern so it's a reactionary type of trading
      3. another way to trade the pattern is entering at retracement from the breakout for stronger validation


      Quote Originally Posted by PhantomTrader79     
      Here's another dose of patterns for you pattern traders:





      As usual, because the charts are in D1 TF then they are still valid for at least a week.



      Have a great weekend!
      Patterns is a great way to trade the market because they always repeat themselves in the market, every market.




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      Very interesting, may I ask for just one question bro, if We already spotted the pattern what is the trigger for Our Entry Position is that a breakout and close above or bellow those pattern ? Thanks.
      Simple Is The Best


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    17. #9
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      Quote Originally Posted by Arief Makmur     
      Very interesting, may I ask for just one question bro, if We already spotted the pattern what is the trigger for Our Entry Position is that a breakout and close above or bellow those pattern ? Thanks.
      Hi bro,

      Thank your for the question.
      My post is a bit mixed so maybe you missed it but I already mentioned this at the very top of the post (every post):

      Tips on drawing patterns:
      1. patterns are not subjective
      2. there are 2 types of pattern in general, the ideal patterns and the deformed pattern
      3. spotting the non-ideal patterns (deformed) takes time and practice

      Tips on how to trade patterns:
      1. patterns are a combination of candlestick that form a repeatable design
      2. using pattern means we trade the breakout from that pattern so it's a reactionary type of trading
      3. another way to trade the pattern is entering at retracement from the breakout for stronger validation
      Personally, I'm not too concerned about how people want to enter the market when using pattern. They can trade using their own style with indicators or whatever as long as there is a pattern occurring then you can just enter using your own entry method. But the simplest two method for naked trading are like the two that I already mentioned (breakout or retrace).


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    19. Dragon
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      Default

      Quote Originally Posted by PhantomTrader79     
      Hi bro,

      Thank your for the question.
      My post is a bit mixed so maybe you missed it but I already mentioned this at the very top of the post (every post):



      Personally, I'm not too concerned about how people want to enter the market when using pattern. They can trade using their own style with indicators or whatever as long as there is a pattern occurring then you can just enter using your own entry method. But the simplest two method for naked trading are like the two that I already mentioned (breakout or retrace).
      Thank you very much bro for your information

      Please Continue bro ...
      Simple Is The Best


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