Are you always trying to find the most accurate head and shoulders chart pattern or always looking for the correct way on how to draw the proper resistane line/ support line? Let me tell you a secret: the market has a lot of Market Makers or Instutional Traders who set up traps on the version of chart pattern that you are reading with, they know retail traders like reading chart pattern and draw trendlines, and they will force you to close at a price that that you do not want to (hunt for your stop-loss order), thus generally, you need to give extra buffer that the market might not be reacting the way that you think the market should.
Generally speaking, if you are looking for chart pattern to trade, the most consistent, and hence, the most profitable chart pattern is the Butterfly Harmonic Pattern or called Gartley 222 Pattern or ABCD Pattern as well.
There is one simple reason why the ABCD Pattern works better than the other chart pattern. whatever it is Double Top Pattern, Double/ Triple Bottom Pattern, U Shape Bottom, Cup and Handle, Ascending Triange, you name it.
The simple reason is there is a Mathmatics or golden ration guiding how you draw the trendlines in the Butterfly Harmonic Pattern. Yes each trendline/ Price Pattern is required to match the 0.236 0.383 or 0.628 ratio of previous movement, hence it is unlike Hands and Shoulder or Decending Triangle that you can connect whatever Bottoms you feel like as the market support line.
and yes, there are some Simple Math which works behind the market. so stop draw non-math backed resistant and support line that gives ambiguous signal, and follow us to learn how simple Math is workling implicitly in side the market so that you can consistently win from the market at www.gannexplained.com
There are some of the real time wd gann math predictions that we have done in the last quarter. the red line being the forecast we suggested, the green section is the real time market reaction after the forecast was posted.
SEND an email with subject "Math Trading FXT" to [email protected] to learn how this market actaully implicitly reacts to the market (it is not golden ratio & fibonacci, wd gann mathematics sequences not every trader already knew!)
which every trader already knows!)
Khit Wong and all members of Gann Explained LLC are NOT financial advisors, and nothing they say is meant to be a recommendation to buy or sell any financial instrument. All information is strictly educational and/or opinion. By reading this, you agree to all of the following: You understand this to be an expression of opinions and not professional advice. Any opinions, news, research, analysis, prices, or other information contained on this website is provided as general market commentary and education and does not constitute advice. The brand name of Gann Explained LLC will not accept liability for any loss or damage, including without limitation any loss of profit, which may arise directly or indirectly from the use of or reliance on such information. You are solely responsible for the use of any content and hold Khit Wong, Gann Explained LLC all members harmless in any event or claim. FTC DISCLOSURE: Any income claims shared by myself, students, friends, or clients are understood to be true and accurate but are not verified in any way. Always do your own due diligence and use your own judgment when making buying decisions and investments in your business.
Editors’ Picks
EUR/USD edges lower toward 1.0700 post-US PCE
EUR/USD stays under modest bearish pressure but manages to hold above 1.0700 in the American session on Friday. The US Dollar (USD) gathers strength against its rivals after the stronger-than-forecast PCE inflation data, not allowing the pair to gain traction.
GBP/USD retreats to 1.2500 on renewed USD strength
GBP/USD lost its traction and turned negative on the day near 1.2500. Following the stronger-than-expected PCE inflation readings from the US, the USD stays resilient and makes it difficult for the pair to gather recovery momentum.
Japanese Yen trades just shy of 157.00 versus the USD
The Japanese Yen weakens across the board after BoJ announced its policy decision. A shortlived spike in the Yen may be testament to an attempt by the Japanese authorities to intervene. US PCE Price Index shows higher-than-expected inflation but does little to impact USD/JPY which almost touches 157.00.
Editors’ Picks
EUR/USD edges lower toward 1.0700 post-US PCE
EUR/USD stays under modest bearish pressure but manages to hold above 1.0700 in the American session on Friday. The US Dollar (USD) gathers strength against its rivals after the stronger-than-forecast PCE inflation data, not allowing the pair to gain traction.
GBP/USD retreats to 1.2500 on renewed USD strength
GBP/USD lost its traction and turned negative on the day near 1.2500. Following the stronger-than-expected PCE inflation readings from the US, the USD stays resilient and makes it difficult for the pair to gather recovery momentum.
Gold struggles to hold above $2,350 following US inflation
Gold turned south and declined toward $2,340, erasing a large portion of its daily gains, as the USD benefited from PCE inflation data. The benchmark 10-year US yield, however, stays in negative territory and helps XAU/USD limit its losses.
Bitcoin Weekly Forecast: BTC’s next breakout could propel it to $80,000 Premium
Bitcoin’s recent price consolidation could be nearing its end as technical indicators and on-chain metrics suggest a potential upward breakout. However, this move would not be straightforward and could punish impatient investors.
Week ahead – Hawkish risk as Fed and NFP on tap, Eurozone data eyed too
Fed meets on Wednesday as US inflation stays elevated. Will Friday’s jobs report bring relief or more angst for the markets? Eurozone flash GDP and CPI numbers in focus for the Euro.
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