Whether you are a seasoned trader or a new trader, it is important to be familiar with chart patterns. Newbies will find it a little difficult to understand chart patterns, but it is not too difficult. Chart patterns help in identifying patterns created by currency price movements. Forex chart patterns can help in entering or exiting trades.
The following types of traditional chart patterns are commonly used. They were introduced centuries ago.
- Double Top
- Double Bottom
- Head and Shoulders
- Inverse Head and Shoulders
- Rising Wedge
- Falling Wedge
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