rarely fit your exact requirement, so there is no point in obsessing a few cents. . This happens all the time on every Forex pair and in every financial market for that matter. This is where we make our profit! It could appear at the end of a bearish trend and could reverse the price movement the same way as the double top. Historically, point and figure charts, line graphs and bar graphs were the raves of their day. How can you trade comfortably using a chart like this? This strategy works on every single Forex pair, and it also works in other markets like cryptocurrencies, options, futures, stocks and everything. Many people wait for a candle close to get in, but I have tested this thoroughly and waiting for closes gets you in too late. It has a short upper wick, a small body, and a long lower wick.
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Price, action, there are, nO indicators. The two formations look the same, but inverted the same way as with the double top and the double bottom formations. Three Rules to Support and Resistance There are three key rules you need to keep in mind when placing support and resistance areas. Take a look at the image below: This is the M30 chart of the USD/CHF for Dec 14-15, 2015. The preceding trend shows us that bears (sellers) have strong control of price and they are pushing price down into a support area. These levels are easily spotted on the chart. They place their entry orders at significant price levels.
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