How to use chart patterns

Share on facebook
Facebook
Share on twitter
Twitter
Share on linkedin
LinkedIn
Share on facebook
Share on twitter
Share on linkedin
706-min

Traders use chart patterns to anticipate where prices are heading, to set up targets, predict retreats and pullbacks, trend reversals etc. The tools the technical analysis provides are used mostly to determine key price levels for trades: at which price open (entry), the target (limit) and where to close a position if the price goes the other direction (stop loss).

Continuation and reversal patterns are the most powerful. It is important to take into account that an intraday trader will likely look for short-term patterns in timeframes of 1-minute up to 4-hours, while a weekly trader would likely use daily to monthly timeframes.

Share on facebook
Facebook
Share on twitter
Twitter
Share on linkedin
LinkedIn
Share on facebook
Share on twitter
Share on linkedin

Recent Articles

Latest Video
Top 5 Brokers
Plus500 Min deposit: £/€/$100 AU$200
Regulation: FCA, CYSEC, ASIC, FMA & FSCA
Rating: Excellent
VISIT NOW
FXTM Min deposit: £200.00
Regulation: FCA, CYSEC, FSC
Rating: Excellent
VISIT NOW
Pepperstone Min deposit: None
Regulation: FCA, ASIC, DFSA
Rating: Excellent
VISIT NOW
AxiTrader Min deposit: £200.00
Regulation: ASIC, FCA, DFSA
Rating: Excellent
VISIT NOW
DeltaStock Min deposit: £150.00
Regulation: FSC
Rating: Excellent
VISIT NOW

Speak to an Expert

Leave your contact details here to receive a call from us.