Wednesday, January 20, 2010

Chart Formation - New Trading Trend

After sometimes passes by and i have used many indicators. It seems now that they are become insignificant in today's trading strategies. Perhaps you can see by yourself that MACD, Slow Stochastic, Bollinger Band work less accurately compare to before.

However the Chart Formation has become more effective nowadays. New and old traders starting to synchronize their knowledge, that chart formation becoming their first choice of technical analysis.

Perhaps anyone can experiment about this new trend. Try to study the whipsaw, double top, double bottom, head and shoulder. All these has now becoming the new trend of forex trading strategies. People no longer want to rely on the technical indicators which can provide them false signal of the market movement.

This seems to be the era of chart formation now.!!

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