This post is an introduction to Japanese candlesticks (also known as candles for short) and will act as a foundation for my future posts on the specific types of candlestick patterns and ideas on how they can be used in trading.
In today’s post I will explore Profit / Loss Ratio, Win / Loss Ratio, Win – Rate and Risk / Reward Ratio, and how they could aid you in your trading.
Price patterns can in general be put in either the continuation or reversal category. Markets are either trending or range bound (non trending) and it’s this transition between trending, ranging and back to trending markets where continuation and reversal patterns normally come in.
When I started getting interested in mindfulness a couple of years ago, I did my fair share of reading up on it; and in doing so I came across the RAIN method: a method that I feel might be of use to some traders. The RAIN method is what this post is about.
In this post I will be covering the double top and double bottom pattern; classic chart patterns in technical analysis known as reversal patterns. Before I get into this post I want those of you that want to know what technical analysis is to check this post out, and for those that need to know more about support and resistance can read about it here; both posts will make what I’m about to discuss a lot more clear.
If you trade long enough, you will notice ego being talked about a lot, whether it’s through trading blogs, podcasts, videos or books; ego will pop up. You might even start to ponder if your ego (we all have egos) poses a problem to your trading and so you might try to find out more on it like I did. Ego and trading is what I’m going to write about in today’s post.
There are some nuisances that come with trading that might make your trading journey hard, and it might be better to accept rather than trying to fight it. If you can’t accept the fact that anything can happen in a market for instance, I do believe that you’ll find your journey in trading might come with some struggles – that’s more so than the other traders who do accept it – and the sooner you accept it, the easier you might make said journey.
In this post I will be discussing one of the most well known and widely recognized patterns in classical charting known as the head and shoulders pattern. It is mainly known as a reversal pattern but some technical analysts also use it as a continuation pattern so I will be discussing both here.
I went short USDCAD sometime during February 2020 for various reasons (the specific dates and reasons are not important for this post) and was stopped out towards the end of that same month for a small loss.
Support and resistance is very popular when it comes to trading, so in this post I will explain the very basics of support and resistance.