Tag Archives: downtrend

Fibonacci expansions levels      Fibonacci expansions are retracement levels beyond the usual 100%. If you are in a buy trade and price exceeds 100%, the expansion levels can be used to find a target. Supposing you have two waves that are in an uptrend, if you apply the Fibonacci retracement on wave 1, it can’t be used in identifying where wave 3 …

Read More »

Chart patterns are good warning signs as well. If properly identified, it can help anticipate when the price would continue or when it will reverse. I pay close attention to flags, head and shoulders, and triangles. Now we will talk about Flags : When the price makes a sudden move up or down, it forms a very steep angle. This …

Read More »

Triangles Chart Pattern A triangle is a corrective chart pattern where the price moves in between two converging trendlines. Trendlines are used to identify the triangles, and depending on the slope, triangles can be classified as: symmetrical, ascending and descending. A triangle is completed by a break of the upper or lower trendline as the price approaches the tip of …

Read More »