Triangles are continuation patterns. Triangles signal a consolidation due to indecision or lack of fundamental drivers in the market. A symmetrical triangle can be broken on either side and it can help showing where the price wants to go. A descending triangle generally breaks to the downside as the price keeps pushing against the support and then breaches it.

An ascending triangle usually breaks to the upside as the price tries multiple times to break the resistance and eventually succeeds.

Note though that even descending and ascending triangles can break on either side. Beware not to be too carried away by the price action when spotting triangles as they can be prone to spikes that look like false breaks.

Flags are a short-term consolidation type of pattern and generally they signal a continuation of the underlying trend. The price generally makes the first impulsive move and then goes into a slow consolidation that looks like a flag. Once the price breaks out of the flag it starts to run. Wedges signal a weakening momentum. They are considered a reversal pattern. A good technical analyst thinks in probabilities. When you make your chart analysis using the tools you have learnt, you should always have more possible outcomes.

For example, if you see the price at a support level you know that the price may either bounce from it or break down and keep falling. You have two possible outcomes, and you can prepare for both of them. Being a good chart analyst requires knowledge, experience, and open mindedness. Your job is to manage risk, and this implies being aware of different situations in order to better prepare for each scenario.

This kind of planning will increase your chances of success and your skills as a chart analyst. Last but not least, a good way is to follow the ForexLive. This could be a good way for practical learning as well as get some trade education and possible ideas always trade at your own risk.

Select additional content:. How to read a chart? GMT LON NY TKYO SYD Your email. First name. Last name. Trading offers from relevant providers. So, what is it and what to expect next? Chart 1. Weekly timeframe. Bullish strength manifestation and price moves into the long zone The pattern base line is about to be tested and after the Follow me Indeed, the price has continued its drop and, yesterday, has made a low at Since that low Gold is rising, but the rise is corrective in nature and in a flag pattern.

The price has already started a reversal. I expect a correction. Thanks for the likes and comments. Now the price is and, in my opinion, it will continue to the downside. Sell rallies Multiple time frame analysis for gold. Please, support my work with like, thank you! Hello, dear traders, we are new here, so we ask you to support our ideas by asking "SUBMIT" and COMMENTS, and you can also freely ask any questions in the comments, we will try to answer everyone, thank you guys.

Today we will look at the price of Xauusd. At the moment price trades inside of falling channel. Also, price made fake breakout to support line and Gold moves into the correction phase after distributive growth from the bottom. The bottom was formed at and since the beginning of November the price of the futures produced a growth of The area of Hey traders, in today's trading session we are monitoring XAUUSD for a buying opportunity around zone, once we will receive any bullish confirmation the trade will be executed.

Trade safe, Joe. If the zone holds, the price will move lower and may reach If the price manages to move above the channel, then this trade will be exposed to a further price increase. So just position yourself on the XAUUSD chart.

XAUUSD top authors. Goldviewfx Premium. We have to admit that it is more exciting than the usual trading experience. Keep in mind that your aim must be to evaluate any special accent for your plan. Make sure you minimize the risk and what is even more important — be constant in your strategy following.

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Here are few steps to follow in order to prepare to trade live. Sign Up. We have mentioned you the demo accounts on Forex brokers as superb options. Though, do not start with your life Forex trading on demo mode before reading our efficient and optimal tips for doing so. Check out the best ways to use the Forex trading live demo mode now:.

There are many criteria we can point for you that are extremely important for live trading experience. Last, but not least, we will end up with a short conclusion for the Forex trading live performance.

Do not get so scared of it, because anybody can learn and become good at it. On the other side, becoming too positive and too confident is not a good idea, either.

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Live Forex trading is a giant benefit, if you prefer to handle the current updates on the market and want to make the best of them. On the other side, the live experience on Forex market requires a decent and winning strategy. It is important for you to have such, because it will provide you more chances to get the desired profits. But Forex live opportunity does not bring only this. We have to admit that it is more exciting than the usual trading experience.

Keep in mind that your aim must be to evaluate any special accent for your plan. Make sure you minimize the risk and what is even more important — be constant in your strategy following. Thus, you will be confident for your final profits. As a matter of fact the system that provides you Forex live trading has a special option to measure your live trading performance. It will give you a chance to see how profitable and proper your trading strategy is.

If you think that live Forex trading differs from the ordinary trading experience, you are wrong. On the contrary — the live Forex trading is similar. Moreover — at some point, it can be even more beneficial and simpler. Here are few steps to follow in order to prepare to trade live. Sign Up. We have mentioned you the demo accounts on Forex brokers as superb options. Though, do not start with your life Forex trading on demo mode before reading our efficient and optimal tips for doing so.

Check out the best ways to use the Forex trading live demo mode now:. There are many criteria we can point for you that are extremely important for live trading experience. Last, but not least, we will end up with a short conclusion for the Forex trading live performance.

Do not get so scared of it, because anybody can learn and become good at it. On the other side, becoming too positive and too confident is not a good idea, either. The more reasonable, wise and tranquil you remain, the better for you live Forex trading.

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The web is full of free of charge and very helpful tutorials and education you can use in advance. Check out them, download the materials you need and read them all over. This is good for you, because being prepared is always beneficial for your personal confidence. So, better start with this to secure your faultless and profitable live Forex trading. Begin with trading on paper. You should begin your Forex live trading experience with a little bit practice in advance to minimize the risk to the minimum.

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More news. Understanding Relationship Between Currency Pairs, Trading Volume, and Time Zones You see, the global currency market is dominated by large banks, commercial companies taking part in import and export of goods and services, central banks, hedge funds, and retail forex traders. Among all of them, though, most of the traders across the world — regardless they are beginners or high punters — prefer to try the live experience. Johannesburg Stock Exchange Nairobi Securities Exchange Nigerian-Stock-Exchange Rwanda Stock Exchange Botswana Stock Exchange Namibian Stock Exchange Casablanca Stock Exchange Stock Exchange of Mauritius. Sell rallies Even if some brokers allow trading during the weekends, the prices of various currency pairs hardly move on Saturday and Sunday. Today we will look at the price of Xauusd.

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