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Traders of Stocks, Options, Forex, CFD's, Futures and more, if you don't quite know the best way to spot and trade chart patterns, then you need to read below!
All these patterns are traded in the same direction as the underlying trend. For the more conservative trader, you would also want to see an increase in volume on the breakout. The experienced trader will also know that when breakouts like this occur, there is often a retest of the resistance line being broken. Once again, chart patterns are areas of indecision in the market place. There is a tendency for volume to drop off while the indecision continues, and eventually, when one side wins over, it is common for there to be an explosive move with higher volume. It is also common that the major trend will win. If you'd like to see a free downloadable video explaining how to spot and trade Chart Patterns then visit our free membership page for details. Or you can simply sign up for our free membership here. To see benefits of A Traders Universe membership along with your chart patterns video click here
Don't want to join our free membership right now? Maybe you'd be interested in someone who teaches options trading based on pattern formations? Click on the following to find out more. Options Trading Course for Pattern Traders
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The Government Doesn’t Want You to Read This Article About the Financial Crisis
December 2, 2008
Editor’s Note: This article has been excerpted from a free issue of Robert Prechter’s monthly market letter, The Elliott Wave Theorist.
The full 10-page market letter, Be One of the Few The Government Hasn’t Fooled, can be downloaded free from Elliott Wave International.
By Robert Prechter, CMT
“Who Will Benefit From The Housing Act?”
This question is an actual headline from a national daily paper. The real answer is: mortgage lending corporations, developers, real estate agents, speculators and politicians. The government is also pledging tax money to providers of “financial counseling” and grants for speculators who want to “buy and renovate foreclosed housing”; in other words, it will hand tax money to charlatans and unfunded wheeler-dealers. But a far better headline would have been, “Whom Will the Housing Act Hurt?” The answer to that question is: (1) prudent people, i.e. savers, earners, renters and people who have waited to buy a house at a reasonable price; and (2) innocent people, i.e. taxpayers.
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The information contained here on this web site, in any email or on any video does not contain specific recommendations to buy or sell at particular prices or times, nor should any of the examples presented be deemed as such. There is a risk of loss in trading futures and futures options, stocks and stocks options, forex, CFD's and any other financial product and you should carefully consider your financial position before making any trades. The reference to statistical probabilities does not pertain to profitability, but rather to the direction of the market. The size and the duration of the markets move, as well as entry and exit prices ultimately determines success or failure in a trade and is in no way represented in these statistics. This is not, nor is it intended to be, a complete study of technical analysis and should not be deemed as such.
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