Chart patterns and market stages are pieces of the same puzzle. Trying to use one without the other will only lead to an incomplete picture.
The chart pattern results are accompanied by a number of fields that give insight into the quality, type, size and direction of the pattern.
Understanding the trend of the market is key. To get the most effective chart pattern set up the direction and strength of the trend....
Trending patterns include wedges and channels. Continuation trending patterns are ideally traded when the market is trending
Autochartist identifies four different Fibonacci Patterns: ABCD, 3 Drive, 3 Point Retracement and the 3 Point Extension.
Non-trending chart patterns are powerful ways to capitalize on the indecision or confusion in the market.
Non-trending patterns capitalize on confusion and lack of opinion.
There are historical tendencies which dictate whether a chart pattern is generally considered to be a continuation or reversal pattern.
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