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Identifying patterns

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Old 23-02-2011, 21:35
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Join Date: Feb 2011
Location: Gilbert, Arizona
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Default Identifying patterns

Indicators are used for identifying patterns from all the ups and downs of the forex market. In any case, indicators get the raw market data feed, and spit out probable trading scenarios. Just remember that they are not instruments for predicting the forex market. We use them to possibly identify opportunities which we could use to our advantage. The indicators must be used with an appropriate money management strategy (which is probably the most important thing in forex trading on margin).
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Old 02-07-2011, 23:08
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Join Date: Feb 2009
Location: Western Australia
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I have always been a fan of pattern based trading, whether it be priced based patterns or a combination of price and indicator.

One of my favourite and most profitable strategies is to look for Shooting Stars / Hammers and then trade them when a short term indicator like Sto or RSI has already reached OB/OS and moving back to the centre. Ie a divergence. Price still making higher highs / Lower Lows, but the indicator is saying otherwise.
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Old 02-07-2011, 23:14
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Join Date: Feb 2009
Posts: 15

just doing test post
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Old 03-07-2011, 00:38
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Join Date: May 2009
Location: Florida
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Default host problem

Welcome back Ash
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