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 holds steady above 1.1100, Fed rate decision in focus
EUR/USD trades marginally higher on the day above 1.1100. A broadly weak US Dollar, amid increased bets of an outsized Fed rate cut and a cautiously optimistic market mood, underpins the pair. All eyes remain on the Fed policy verdict.
GBP/USD rises to new multi-week high near 1.3250
GBP/USD preserves its bullish momentum and trades at its highest level since late August near 1.3250. Pound Sterling outperforms its rivals following the August inflation data, while the US Dollar struggles to find demand ahead of Fed policy decisions.
USD/JPY corrects below 142.00 ahead of Fed verdict
USD/JPY slides below 142.00 as firm speculation for Fed large interest rate cuts weighs on the US Dollar. Market participants expect the Fed to cut interest rates by 100 bps this year. Investors expect the BoJ to maintain interest rates steady at 0.25% on Friday.
Editors’ Picks
Fed is ready for first rate cut in four years, will it be 25 or 50 bps? – LIVE
The Federal Reserve (Fed) is widely expected to lower the policy rate after the September meeting but markets are undecided about the size of the cut. The revised Summary of Economic Projections, alongside the rate decision, will ramp up the market volatility.
EUR/USD holds steady above 1.1100, Fed rate decision in focus
EUR/USD trades marginally higher on the day above 1.1100. A broadly weak US Dollar, amid increased bets of an outsized Fed rate cut and a cautiously optimistic market mood, underpins the pair. All eyes remain on the Fed policy verdict.
GBP/USD rises to new multi-week high near 1.3250
GBP/USD preserves its bullish momentum and trades at its highest level since late August near 1.3250. Pound Sterling outperforms its rivals following the August inflation data, while the US Dollar struggles to find demand ahead of Fed policy decisions.
Gold consolidates near record highs as Fed looms
Gold holds its ground following Tuesday's pullback but struggles to gather bullish momentum, trading in a narrow channel below $2,580. Investors stay on the sidelines while gearing up for the Federal Reserve's interest rate decision.
Federal Reserve set for first interest-rate reduction in four years amid growing bets of jumbo cut
The Federal Reserve is widely expected to lower the policy rate after the September meeting. The revised Summary of Economic Projections and Fed Chairman Powell’s remarks could provide important clues about the rate outlook.
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