Hey Guys! I just wanted to post a quick tutorial on how to find legitimate Head and Shoulder patterns. In this lesson, I explain the 5 rules that a Head and Shoulders pattern must abide for it to be legitimate. Here's the rules: #1 Both necklines must be parallel. #2 The main neckline cannot be broken out of surpassed before the right shoulder's price level...
Hey Guys! When it comes to price patterns, there are many. I mean, look up "price patterns for trading" on google and you'll find countless variations. Just like in the movie "A Beautiful Mind", where Russel Crowe's character locates patterns in Russian Codes; a price action trader, can find endless variations of patterns on their charts. However, these...
Hey Guys! I just wanted to post a quick tutorial on how to find legitimate double tops and bottoms. In this lesson, I explain the 4 rules that a double top/bottom must abide for it to be legitimate. So for example: For a legitimate double bottom: #1 The 2nd bottom's price must reach the 1st bottom's wick low price level. #2 The 2nd bottom's price cannot...