Introduction to Forex
Forex Fundamentals
Characteristics of Candlesticks
Support and Resistance / Chart Patterns
Technical Indicators
Sniper Strategies
Support and Resistance / Chart Patterns
A Support and Resistance / Chart Patterns Course teaches traders how to identify and interpret key technical analysis concepts. It covers the formation and significance of support and resistance levels and explores various chart patterns like head and shoulders, double tops and bottoms, and triangles. The course equips participants with the skills to use these patterns to predict market movements and make informed trading decisions through real-world examples and practical exercises.
What I will learn?
- Support And Resistance
- Bullish Uptrend
- Bearish Downtrend
- Bullish Flag Pattern
- Bearish Flag Pattern
- Ascending Triangle Pattern
- Descending Triangle Pattern
- Symmetrical Triangle Pattern
- Bullish Pennant Pattern
- Bearish Pennant Pattern
- Double Top – M Pattern
- Double Bottom – W Pattern
- Rising Wedge Pattern
- Falling Wedge Pattern
- Head And Shoulders Pattern
- Inverse Head And Shoulder Pattern
Content/Playlist (16)
- Support And Resistance (00:14:20)
Description:
Support and Resistance levels are important points in time where forces of supply and demand meet. Technical analysts use these zones for market psychology and buy and sells. These levels are visualized on charts and are price levels that consistently reject attempts to exceed above (resistance) or below (support) Supports are a price level that the stock will not fall below, whereas resistance is a price level that the stock cannot seem to rise above. The longer these levels hold and become stabilized, an eventual breakout or breakdown will occur. - Bullish Uptrend (00:16:37)
Description:
Support and Resistance levels are important points in time where forces of supply and demand meet. Technical analysts use these zones for market psychology and buy and sells. These levels are visualized on charts and are price levels that consistently reject attempts to exceed above (resistance) or below (support) Supports are a price level that the stock will not fall below, whereas resistance is a price level that the stock cannot seem to rise above. The longer these levels hold and become stabilized, an eventual breakout or breakdown will occur. Bullish and bearish flag/pennant patterns can be identified often on charts that occur in a strong uptrend or a downtrend. They are called flag patterns because they resemble a flag on a pole seen on charts, and can be called bullish or bearish flags depending on the trend. The typical features of a flag pattern have a pole which is formed by a strong move up or down on high relative volume. After, the stock consolidates near the top or bottom of the pole on lighter volume, forming the flag. Furthermore, after some consolidation, the price breaks out on relative volume to continue the trend. Flag patterns can be used in momentum trading and can be used on any candlestick time frame, especially the 5M frames to scalp short-term price movements. The pennant pattern is identical to the flag pattern, however, the only difference is in the consolidation period where a flag has parallel trend lines and the pennant has converging trendlines. - Bearish Downtrend (00:10:59)
Description:
Bullish and bearish flag/pennant patterns can be identified often on charts that occur in a strong uptrend or a downtrend. They are called flag patterns because they resemble a flag on a pole seen on charts, and can be called bullish or bearish flags depending on the trend. The typical features of a flag pattern have a pole which is formed by a strong move up or down on high relative volume. After, the stock consolidates near the top or bottom of the pole on lighter volume, forming the flag. Furthermore, after some consolidation, the price breaks out on relative volume to continue the trend. Flag patterns can be used in momentum trading and can be used on any candlestick time frame, especially the 5M frames to scalp short-term price movements. The pennant pattern is identical to the flag pattern, however, the only difference is in the consolidation period where a flag has parallel trend lines and the pennant has converging trendlines. - Bullish Flag Pattern (00:16:37)
Description:
Bullish and bearish flag/pennant patterns can be identified often on charts that occur in a strong uptrend or a downtrend. They are called flag patterns because they resemble a flag on a pole seen on charts, and can be called bullish or bearish flags depending on the trend. The typical features of a flag pattern have a pole which is formed by a strong move up or down on high relative volume. After, the stock consolidates near the top or bottom of the pole on lighter volume, forming the flag. Furthermore, after some consolidation, the price breaks out on relative volume to continue the trend. Flag patterns can be used in momentum trading and can be used on any candlestick time frame, especially the 5M frames to scalp short-term price movements. The pennant pattern is identical to the flag pattern, however, the only difference is in the consolidation period where a flag has parallel trend lines and the pennant has converging trendlines. - Bearish Flag Pattern (00:10:59)
Description:
Bullish and bearish flag/pennant patterns can be identified often on charts that occur in a strong uptrend or a downtrend. They are called flag patterns because they resemble a flag on a pole seen on charts, and can be called bullish or bearish flags depending on the trend. The typical features of a flag pattern have a pole which is formed by a strong move up or down on high relative volume. After, the stock consolidates near the top or bottom of the pole on lighter volume, forming the flag. Furthermore, after some consolidation, the price breaks out on relative volume to continue the trend. Flag patterns can be used in momentum trading and can be used on any candlestick time frame, especially the 5M frames to scalp short-term price movements. The pennant pattern is identical to the flag pattern, however, the only difference is in the consolidation period where a flag has parallel trend lines and the pennant has converging trendlines. - Ascending Triangle Pattern (00:13:29)
Description:
Ascending Triangle – these are bullish continuation patterns where the top resistance trend line of the pattern is horizontal and and the bottom support trend line is rising. This illustrates that buyers are increasing and eventually with added volume will break the resistance and continue a bullish breakout. - Descending Triangle Pattern (00:08:38)
Description:
Descending Triangle – these are bearish continuation patterns and an inverted version of an ascending triangle. The lower support trend line goes flat or horizontal as the upper trendline continues to fall diagonally and close the gap. This shows the sellers are anxious to lower their offers and unload their shares creating a panic sell, and continue the bearish breakdown. - Symmetrical Triangle Pattern (00:06:35)
Description:
Symmetric Triangle – these are continuation patterns of the prior trend and can be bullish or bearish. They have a falling upper trend line and a rising lower trend line. This illustrates both the sellers lowering their offers and the buyers raising their bids. Eventually, one of the trend lines will break and start the new leg in the new uptrend or downtrend. - Bullish Pennant Pattern (00:05:48)
Description:
Bullish and bearish flag/pennant patterns can be identified often on charts that occur in a strong uptrend or a downtrend. They are called flag patterns because they resemble a flag on a pole seen on charts, and can be called bullish or bearish flags depending on the trend. The typical features of a flag pattern have a pole which is formed by a strong move up or down on high relative volume. After, the stock consolidates near the top or bottom of the pole on lighter volume, forming the flag. Furthermore, after some consolidation, the price breaks out on relative volume to continue the trend. Flag patterns can be used in momentum trading and can be used on any candlestick time frame, especially the 5M frames to scalp short-term price movements. The pennant pattern is identical to the flag pattern, however, the only difference is in the consolidation period where a flag has parallel trend lines and the pennant has converging trendlines. - Bearish Pennant Pattern (00:05:14)
Description:
Bullish and bearish flag/pennant patterns can be identified often on charts that occur in a strong uptrend or a downtrend. They are called flag patterns because they resemble a flag on a pole seen on charts, and can be called bullish or bearish flags depending on the trend. The typical features of a flag pattern have a pole which is formed by a strong move up or down on high relative volume. After, the stock consolidates near the top or bottom of the pole on lighter volume, forming the flag. Furthermore, after some consolidation, the price breaks out on relative volume to continue the trend. Flag patterns can be used in momentum trading and can be used on any candlestick time frame, especially the 5M frames to scalp short-term price movements. The pennant pattern is identical to the flag pattern, however, the only difference is in the consolidation period where a flag has parallel trend lines and the pennant has converging trendlines. - Double Top – M Pattern (00:16:39)
Description:
Double Top and Bottom Patterns illustrate areas where the market has made two unsuccessful attempts to break through a previous support or resistance area.A Double Top (looks like the letter M), has two failed uptrends rejected at the resistance level, resulting in a bearish reversal. A Double Bottom, on the other hand (looks like the letter W), is the exact opposite where two unsuccessful attempts to break through a previous support level failed, resulting in a bullish reversal. - Double Bottom – W Pattern (00:19:02)
Description:
Double Top and Bottom Patterns illustrate areas where the market has made two unsuccessful attempts to break through a previous support or resistance area. A Double Top (looks like the letter M), has two failed uptrends rejected at the resistance level, resulting in a bearish reversal. A Double Bottom, on the other hand (looks like the letter W), is the exact opposite where two unsuccessful attempts to break through a previous support level failed, resulting in a bullish reversal. - Rising Wedge Pattern (00:09:48)
Description:
A Wedge Pattern is another technical reversal pattern marked by converging trend lines on a price chart. These two trend lines are drawn to illustrate the highs and lows of the price, and shows that they are either rising or falling and differing rates, giving the appearance of a wedge as the lines approach a convergence. Furthermore, these chart patterns are useful indicators of market exhaustion and a potential reversal in price action. Rising Wedge (bearish) – a pattern found in charts when the price moves upward with highs and lows converging toward a single point known as the Apex. Also, the volume should be decreasing, showing a divergence between price and volume, creating the possible reversal pattern. - Falling Wedge Pattern (00:07:07)
Description:
A Wedge Pattern is another technical reversal pattern marked by converging trend lines on a price chart. These two trend lines are drawn to illustrate the highs and lows of the price, and shows that they are either rising or falling and differing rates, giving the appearance of a wedge as the lines approach a convergence. Furthermore, these chart patterns are useful indicators of market exhaustion and a potential reversal in price action. Falling Wedge (bullish) – opposite pattern of a rising wedge, where the stock price has been falling over time, and a wedge is developed as the trend makes its final downward move. As the trend lines converge towards the Apex, and volume decreases, buyers step in and a reversal is made. - Head And Shoulders Pattern (00:19:57)
Description:
The Head and Shoulder Pattern is one the most reliable reversal patterns and can be seen in an uptrend or a downtrend. This chart formation resembles a baseline with three peaks, the outside two are close in height (shoulders), and the middle is the highest (head). For example, after a long bullish rally, the price rises to a peak and eventually declines back to the base. Eventually, the price rises again to form a second high above the initial peak and declines again. Finally, the price rises again for a third time, but only to the level of the first peak, before declining once more. The first and third peaks are the shoulders, and the second peak forms the head, where the line connecting the peaks is the neckline. The Inverse Head and Shoulder Pattern is the exact opposite where it indicates that a downtrend is about to reverse into an uptrend. - Inverse Head And Shoulder Pattern (00:18:22)
Description:
The Head and Shoulder Pattern is one the most reliable reversal patterns and can be seen in an uptrend or a downtrend. This chart formation resembles a baseline with three peaks, the outside two are close in height (shoulders), and the middle is the highest (head). For example, after a long bullish rally, the price rises to a peak and eventually declines back to the base. Eventually, the price rises again to form a second high above the initial peak and declines again. Finally, the price rises again for a third time, but only to the level of the first peak, before declining once more. The first and third peaks are the shoulders, and the second peak forms the head, where the line connecting the peaks is the neckline. The Inverse Head and Shoulder Pattern is the exact opposite where it indicates that a downtrend is about to reverse into an uptrend.
