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Ammeo

The Chart Pattern U Look for the Most?

Which Chart Pattern You look for the most in ur trading?  

61 members have voted

  1. 1. Which Chart Pattern You look for the most in ur trading?

    • Triple Top/Bottom
      2
    • Double Top/Bottom
      16
    • Cup with Handle
      2
    • Bullish and Bearish Triangles
      7
    • Rising/Falling Wedge
      4
    • High/Low Pole
      2
    • Head and Shoulders Top/Bottom
      8
    • Flag, Pennant
      4
    • Price Channel
      6
    • Long Tail Down
      10


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The witches pentagram. It's a lesser known formation that is used by floor traders. It works 80% of the time with a risk:reward ratio of 1:3

 

To spot it you need to use MACD, RSI, OBV and 2 candlesticks, thus forming the 5 sides of the pentagram. It works like magic!

 

It occurs 4 times a day in most markets.

 

I would tell you exact details, but I paid an ex-floor trader $2000 for his e-book which comes with an NDA that you are not allowed to disclose it to anyone.

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I think it doesn't matter what you look for the most but works better the most. The only way to find that out is through testing. Daniel at mechanicalforex.com recently created a program to look for patterns that satisfy some performance criteria based on the work by Michael Harris who has developed an algo that achieves this. This approach moves the trader to the next level away from visual identification and into quantitative analysis. Only then one can compete on a plain level field with hedge funds and other quants.

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The witches pentagram. It's a lesser known formation that is used by floor traders. It works 80% of the time with a risk:reward ratio of 1:3

 

To spot it you need to use MACD, RSI, OBV and 2 candlesticks, thus forming the 5 sides of the pentagram. It works like magic!

 

It occurs 4 times a day in most markets.

 

I would tell you exact details, but I paid an ex-floor trader $2000 for his e-book which comes with an NDA that you are not allowed to disclose it to anyone.

 

Which trading instruments it works on? Can it be used on stocks or only forex?

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