Chart Patterns
These are the chart patterns usually found with the #GOLD pair. It's easy to trade it, trust me! Take a look at the chart patterns one by one.
This usually happens before the market starts to speed up. It can be considered as an indicator to the change of a market's direction.
Just familiarise yourself with the patterns ok!
These are the chart patterns usually found with the #GOLD pair. It's easy to trade it, trust me! Take a look at the chart patterns one by one.
This usually happens before the market starts to speed up. It can be considered as an indicator to the change of a market's direction.
Just familiarise yourself with the patterns ok!
Double Top & Double Bottom
Double Top is when the price reaches resistance level twice. Due to strong resistance, the price won't breakthrough and will drop.
Double Top: SELL ONLY
Double bottom is when the price reaches support twice. Due to strong support, the price won't drop and will continue to rise.
Double Bottom: BUY ONLY
Double Top is when the price reaches resistance level twice. Due to strong resistance, the price won't breakthrough and will drop.
Double Top: SELL ONLY
Double bottom is when the price reaches support twice. Due to strong support, the price won't drop and will continue to rise.
Double Bottom: BUY ONLY
Head & Shoulder
This pattern is broken to two ✌🏻
1. Head & Shoulder
2. Inverted Head & Shoulder
Head & Shoulder works as a pattern for us to identify a sell setup. We will sell once we see the shaping of the 1st Shoulder & Head.
So, we will buy at the 2nd part of the Shoulder.
Head & Shoulder: SELL ONLY
Inverted Head & Shoulder also functions the same but we look for a buy setup at the 2nd Shoulder.
Inverted: BUY ONLY
This pattern is broken to two ✌🏻
1. Head & Shoulder
2. Inverted Head & Shoulder
Head & Shoulder works as a pattern for us to identify a sell setup. We will sell once we see the shaping of the 1st Shoulder & Head.
So, we will buy at the 2nd part of the Shoulder.
Head & Shoulder: SELL ONLY
Inverted Head & Shoulder also functions the same but we look for a buy setup at the 2nd Shoulder.
Inverted: BUY ONLY
What is a TimeFrame?
Time Frame is the time period or time period for each candlestick or bar chart used. A smaller time frame, means the graph will show smaller movements. The larger the time frame, the larger the time period of movement of the graph shown.
Time Frame
M1 - 1 Minutes
M5 - 5 Minutes
M15 - 15 Minutes
M30 - 30 Minutes
H1 - 1 Hours
H4 - 4 Hours
D1 - Daily
W1 - Weekly
MN - Monthly
Time Frame is the time period or time period for each candlestick or bar chart used. A smaller time frame, means the graph will show smaller movements. The larger the time frame, the larger the time period of movement of the graph shown.
Time Frame
M1 - 1 Minutes
M5 - 5 Minutes
M15 - 15 Minutes
M30 - 30 Minutes
H1 - 1 Hours
H4 - 4 Hours
D1 - Daily
W1 - Weekly
MN - Monthly
What is Pending Order?
-PENDING ORDER is a buy/sell order placed
at a certain price, and the order will be taken on time
price reaches the level of the pending order.
Pending Order Type:-
1 -Buy Limit = Buy below the current price.
2 -Sell Limit = Sell above the current price.
3 -Buy Stop = Buy above the current price.
4 -Sell Stop = Sell below the current price.
-PENDING ORDER is a buy/sell order placed
at a certain price, and the order will be taken on time
price reaches the level of the pending order.
Pending Order Type:-
1 -Buy Limit = Buy below the current price.
2 -Sell Limit = Sell above the current price.
3 -Buy Stop = Buy above the current price.
4 -Sell Stop = Sell below the current price.