Daniel Mankani "DynamicTrader – Trend Trading Dynamics" Trading for a living, systematically profiting from longer term trends.

Chart Patterns

CHARTS PATTERNS

 

Charts
Formation Course

Ask a Chartist why he lost money and he says I didn't follow my CHARTS!!, its amazing sometimes when two individuals see the same charts and one prefers to buy and the other sell, to our understanding there's only one truth and it can be seen on the charts -   DynamicTrader

Charting Course Overview

It is important to note that the Charting Course provided herein does not attempt to be a comprehensive treatment on Charting or Technical Analysis methods. There are numerous, well-written books on Chart Interpretation and Technical Analysis. A brief and simplistic review of some basic charting concepts are provided for reference only and to stimulate further study. For a recommended reading list on Charting and Technical Analysis is provided herein below.

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Trendlines -
Inclining Trendline
A straight line usually drawn to define an uptrend against or through price bar lows.
Trendlines - Declining
Trendline
A straight line usually drawn to define a downtrend against or through price bar highs.
SupportA horizontal line (floor) which has acted as a barrier to lower prices. Usually defined by
two or more price bar lows.
ResistanceA horizontal line (ceiling) which has acted as a barrier to higher prices. Usually defined
by two or more price bar highs.
Channel-IncliningAn up-trending price bar pattern in which inclining parallel lines can be drawn through or
against price bar highs and lows respectively.
Channel-DecliningA down-trending price bar pattern in which declining parallel lines can be drawn through
or against price bar highs and lows respectively.
Channel-Horizontal or
Sideways
A horizontal or "sideways" price bar pattern in which horizontal parallel lines
can be drawn through or against price bar highs and lows respectively. Chartists
frequently "buy" or (go-long) on a break up and out of the Channel or
"sell" (go-short) on a break down and out of the Channel.DynamicTrader
provides technical trading assistance to traders for more details
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Symmetrical DynamicTrader
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System and 24hours monitoring of your trade positions, for more details
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Triangles-SymmetricalA price bar pattern in which the slope of price bar highs and lows are converging to a point so as to outline the pattern in a symmetrical triangle. Chartists frequently "buy" or (go-long) on a break up and out of the Symmetrical Triangle or "sell" (go-short) on a break down and out of the Symmetrical Triangle.

Ascending
Ascending TriangleA price bar pattern in which the slope of price bar highs and lows are converging to a point so as to outline the pattern in Right Triangle. The hypotenuse in an Ascending Triangle should be sloping from lower to higher and from left to right. Chartists frequently buy or (go-long) on a break up and out of the Ascending Triangle or sell
(go-short) on a break down and out of the Ascending Triangle. However, Ascending Triangles are generally thought to demonstrate a stronger bias towards predicting a break up and out of the Triangle, particularly when the trend leading up to the formation has been up.

Descending
Descending TriangleA price bar pattern in which the slope of price bar highs and lows are converging to a point so as to outline the pattern in Right Triangle. The hypotenuse in an Descending Triangle should be sloping from higher to lower and left to right. Chartists frequently
buy or (go-long) on a break up and out of the Descending Triangle or sell (go-short) on a break down and out of the Ascending Triangle. However, Descending Triangle are generally thought to demonstrate a stronger bias towards predicting a break down and out of the
Triangle, particularly when the trend leading to the formation has been down.
Non-SymmetricalA price bar pattern in which the slope of price bar highs and lows are converging to a point so as to outline the pattern in a non-symmetrical triangle. Chartists frequently "buy" or (go-long) on a break up and out of the Non-Symmetrical Triangle or "sell" (go-short) on a break down and out of the Non-Symmetrical Triangle.

Non-Symmetrical  (A)

Non-Symmetrical  (B)
Pennants PennantsSimilar to a Symmetrical Triangle but generally "stubbier" or not as elongated. A price bar pattern in which the slope of price bar highs and lows are converging to a point so as to outline the pattern in a symmetrical triangle. Chartists frequently "buy" or (go-long) on a break up and out of the Pennant or "sell" (go-short) on a break down and out of the Pennant.Rickee
Ng Lee Seng - (Short Note), uses the "time is money" knowledge approach, his
philosophy is trading the true value of the market with his "time-value system",
works well for him and his clients. To find out more about about this "win-win"
technique or to send him mail click here.
Daniel Mankani uses
the one to one approach with his clients & provides market psychology for indications
of future prices, author of DynamicTrader-Trend Trading Dynamics, he has developed
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Rising/Inclining Wedges-Rising or IncliningA price bar pattern in which the slope of price bar highs and lows are converging to a point so as to outline the pattern in a triangle that points diagonally higher. The slope  of both converging lines is up, the lower one being steeper than the higher one. Chartists
frequently buy or (go-long) on a break up and out of the Wedge or sell (go-short) on a break down and out of the Wedge. Rising Wedges, in the context of a prior downtrend are generally considered to have a stronger bias toward breaking down and out, as opposed to
up and out.
Falling/Declining Wedges-Falling or DecliningA price bar pattern in which the slope of
price bar highs and lows are converging to a point so as to outline the pattern in a
triangle that points diagonally lower. The slope of both converging lines is down, the
higher one being steeper than the lower one. Chartists frequently buy or (go-long) on a
break up and out of the Wedge or sell (go-short) on a break down and out of the Wedge.
Falling Wedges, in the context of a prior uptrend, are generally considered to have a
stronger bias toward breaking up and out, as opposed to down and out.
Bull
Flag
Bull FlagA price bar pattern consisting of a relatively small number of price bars in which the slope of price bar highs and lows are parallel and declining, or in which the slopes converge to a point in the shape of a small Pennant. Bull Flags are identified by their characteristic pattern and by the context of the prior trend. In the case of a Bull Flag the trend leading to the formation of the Bull Flag is up. Chartists frequently "buy" or (go-long) on a break up and out of a Bull Flag formation. Bull Flags are generally considered to have a stronger bias toward breaking "up and out,"
as opposed to "down and out."
Bear
Flag
Bear FlagA price bar pattern consisting of a relatively small number of price bars in which the slope of price bar highs and lows are parallel and inclining, or in which the slopes converge to a point in the shape of a small Pennant. Bear Flags are identified by their characteristic pattern and by the context of the prior trend. In the case of a Bear Flag the trend leading to the formation of the Bear Flag is down. Chartists frequently "sell" or (go-short) on a break down and out of a Bear Flag formation. Bear Flags are generally considered to have a stronger bias toward breaking "down and out," as opposed to "up and out."
Top/Bottom Formations1-2-3 (A-B-C) TopAnticipates a change in trend from up to down on a break below the number
"2" point.
1-2-3 (A-B-C) BottomAnticipates a change in trend from down to up on a break above the number "2" point.
1-2-3 Top 1-2-3 Bottom
Choosing
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Top/Bottom Formations-2 "EDUCATED
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Head And ShouldersAnticipates a decline on a break below the "Neckline."
Inverted Head and ShouldersAnticipates a rise in prices on a break above the "Neckline."
Double TopAnticipates a change in trend from up to down. Double BottomAnticipates a change in trend for down to up.
Triple TopAnticipates a change in trend from up to down. Triple BottomAnticipates a change in trend from down to up.
Rounded TopAnticipates a change in trend from up to down. Rounded BottomAnticipates a change in trend from down to up.
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