zzamand56
Do陰czy: 10 Mar 2024
Posty: 1
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 Wys豉ny: Nie Mar 10, 2024 10:31 Temat postu: Thomas Bulkowski and first mentioned in the book |
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This graphical configuration was developed by "Complete Encyclopedia of Graphical Models." I have used the techniques to improve it and the trading strategies from my personal practice. Model identification begins with the appearance of the 1-2-3 pattern on the chart. If it occurs in a bull market, then the inability of the bears to reverse the trend through the breakout of point 2 is the first sign of the strength of their opponents. Buyers launch the attack, test the high at point 3, however, their hopes will also not come true. The quotes enter consolidation, and the trader redraws the points on the chart. The starting point is the correction of the minimum (point 2 of the 1-2-3 model). As a result, an « Expansion Wedge » appears , which is the combination of two differently directed lines 1-3 and 2-4 .
The fight between the two lions reaches the boiling point, and the coyote continues waiting. Ultimately, resilience is almost the most important quality a trader should possess. As soon as the quotes of the analyzed pair update the minimum at Belize Mobile Number List point 3, point 5 appears. It does not have to be on line 1-3. The depth of your location also does not matter. The formation of the “Expansion Wedge” pattern is considered completed, if after point 5 there is a reversal in the direction of 23.6%, 38.2%, etc. of waves 4-5. The pattern is a reversal pattern, but if the correction passes the 88.6% level, then it should be considered as a trend continuation pattern . The critical value is 78.6%. LiteFinance: “Expanding Wedge” is an Effective Forex Pattern | Litefinance The conservative strategy involves entering a short position on the repeated test of support at point 5 .
Aggressive trading is based on selling on a reversal to the previous price level . Simply put, if the quotes, after reaching the level of 78.6% of wave 4-5, return to 61.8%, a signal appears to open a short position. The main problem is related to the strength of the opponents. If the fight between the lions ends quickly, then the coyote will soon be full. On the contrary, if the pair enters consolidation, then the probability of losses increases. However, a lot depends on the stop order. It is generally located two levels above the entry point. LiteFinance: “Expanding Wedge” is an Effective Forex Pattern | Litefinance Sometimes a derived graphic configuration appears within the “Expanding Wedge” pattern. I call it a pattern within a pattern . |
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