Econimic calender

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Monday, September 28, 2015

Descending triangles


Most of the time you can spot in the charts things such Flags, triangles, pennants. I use them to forecast the future price movements. 


It is very important to wait before placing the order. If the price hit the upper triangle line it doesn't mean that price starting to move upwards. Price can quickly come back to the previous level. This is what i call is RE TEST (picture below).



Usually i place the order then the price show a really big movement down or up and volumes are increasing at the same time (picture below).


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