A Price Pattern To Trade

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I've spent a lot of years trading price patterns. The only real trick to making successful trades is to make sure the pattern has a couple of reliable indicators that support the pattern.

There are really only a few basic price patterns:

• Bull flag
• Bear Flag
• Ascending Triangles
• Desending Triangles
• Support/Resistance
• Head/Shoulders Top
• Head/Shoulders Bottom
• 1-2-3 -UP
• 1-2-3 - Down

These patterns can be found on almost all of the time frames.

Here is a strategy I've used for years.

1. Determine Trend
2. Look for patterns in the direction of the trend.

It's really not that difficult. Then too, it's not fool proof. :whistling

Money management is a must for every trade.

I scanned a couple of currency pairs today and found the USD/CAD had a real classic.

Here's a shot of the pair.


As you can see you can actually determine a target for the Breakout from #2

A Stop-Loss should always be factored in.

I'll see what I can come up with for the other patterns a bit later.

Til then. good trading
RT... :smart:


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