Identifying patterns

[Stephanie3374]

Indicators are used for identifying patterns from all the ups and downs of the forex market. In any case, indicators get the raw market data feed, and spit out probable trading scenarios. Just remember that they are not instruments for predicting the forex market. We use them to possibly identify opportunities which we could use to our advantage. The indicators must be used with an appropriate money management strategy (which is probably the most important thing in forex trading on margin).

[hiachiever]

I have always been a fan of pattern based trading, whether it be priced based patterns or a combination of price and indicator.

One of my favourite and most profitable strategies is to look for Shooting Stars / Hammers and then trade them when a short term indicator like Sto or RSI has already reached OB/OS and moving back to the centre. Ie a divergence. Price still making higher highs / Lower Lows, but the indicator is saying otherwise.

[larry]

just doing test post

[caboose]

Welcome back Ash