Chart Pattern Day Trading - Charts That Work For Day Trading

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http://www.marketgeeks.com/pattern-day-trading/ Download Your Free Trading Report. Chart Pattern Day Trading will show you which patterns work for day trading and how to use them the right way. Don't miss this important video for day traders. You can apply these methods to stocks, futures and Forex markets.

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Chart Pattern Day Trading

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Free Trading Report

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Copyright © 2007-2013 Market Geeks, LLC. All Rights Reserved.

Some Chart Patterns Won’t Work For Day
Trading

They Take Too Long To Set Up

They Require Long Holding Periods

They Don’t Generate Sufficient Profit For Day Trading

Copyright © 2007-2013 Market Geeks, LLC. All Rights Reserved.

Some Chart Patterns Work Well For Day
Trading

I Will Go Over 3 Different Patterns That Work

Channel Breakout

Triangle Breakout

Gap Against The Trend

They Consistently Work With Stocks, Futures, Forex

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Channel Lasted 6 Weeks Before Breakout

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You Must Monitor The Market Each Morning

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Always Place Your Stop Loss After Entry

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Triangles Provide Low Risk Entry Set Ups

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Make Sure Breakout Starts With Gap

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Place Stop Loss Below Entry Bar

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The Entry Must Be In Direction Of Trend

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The Gap Must Be Against The Main Trend

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Enter Above Previous Day’s High Price

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Thanks For Watching

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By www.TheForexNittyGritty.com Technical Analysis of Major Forex Currencies Technical analysis of major Forex currencies tends to be more accurate and more profitable than that of minor currencies. This is largely because the major currencies trade in higher volume. Technical analysis of major Forex currencies is germane because these currencies trade one versus another whereas many minor currencies only trade versus the US dollar. When dealing with often volatile foreign currency rates the trader needs to make an accurate assessment of the market. This makes technical analysis of major Forex currencies essential. Major Forex Currencies The major Forex currencies are as follow: • United States Dollar, USD • Euro, EUR • British Pound, GBP • Yen, YEN • Swiss franc, CHF • Canadian Dollar, CAD • Australian Dollar, AUD These currencies are most traded and are tied to strong economies. Because of their high trading volume technical analysis of major Forex currencies tends to be much more accurate and more likely to lend profits to Forex technical strategies than with minor currency pairs. Here are the top fifteen currencies by percentage of transactions in which they are traded. Because there are two Forex currencies in a pair every trade has two currencies and every hundred trades has two hundred currencies represented. Thus the above table tallies up to 200 percent. As the above table demonstrates eighty-five percent of all Forex trades include the US dollar. Thirty-nine percent include the Euro. The Yen and British Pound follow at nineteen and thirteen percent respectively. This is not surprising as the USA and the Euro Zone are the world’s two largest economies and are responsible for the two largest portions of world trade. Because high volume leads to more accurate technical analysis the best technical analysis of major Forex currencies should be when trading the USD, EUR, YEN, and GBP, against each other. Although currency strength is decided by employment rates, monetary policy, balance of payments, and the like, technical analysis of Forex pairs focuses on evolving market sentiment and give traders the most up to date information as to where the market will go next. In Forex trading the Euro versus the USD, YEN, or other currencies technical analysis gives the astute trader an advantage in the markets. Candlesticks: from Rice to Greenbacks Hundreds of years ago rice traders in Japan recognized that is was possible to read the first part of a price pattern and successfully predict the second part. Japanese candlestick signals were devised in order to help traders profit in rice trading. Today they are in use by stock, commodity, and Forex traders.

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Chart Pattern Day Trading - Charts That Work For Day Trading

3. Some Chart Patterns Won’t Work For Day Trading They Take Too Long To Set Up They Require Long Holding Periods They Don’t Generate Sufficient Profit For Day Trading Copyright © 2007-2013 Market Geeks, LLC. All Rights Reserved.

4. Some Chart Patterns Work Well For Day Trading I Will Go Over 3 Different Patterns That Work Channel Breakout Triangle Breakout Gap Against The Trend They Consistently Work With Stocks, Futures, Forex Copyright © 2007-2013 Market Geeks, LLC. All Rights Reserved.

14. Things To Keep In Mind Some Patterns Work Better For Day Trading Begin Your Analysis With Daily Charts Stick To Patterns That Have Solid Risk To Reward Profile Copyright © 2007-2013 Market Geeks, LLC. All Rights Reserved.

Chart Pattern Day Trading - Charts That Work For Day Trading

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Chart Pattern Day Trading - Charts That Work For Day Trading