Chart patterns are the essential price analysis for Forex and Stock market trading as the price is the single most important variable in the market. You can not miss to study the price, even it is very basic one. No one would attempt to trade without seeing the price itself. When you use the chart patterns wisely as the timing tool, it will often reward you more than people who does not use them. Chart patterns include support, resistance, Fibonacci Analysis, harmonic pattern, Elliott Wave, X3 Chart pattern, triangles, rising wedge, falling wedge pattern, channels and many more. Your next question would be why they are so important for our trading and how to use them in our trading. This is rather not short story to be packed in this single article. We can only tell where you can find such a guidance using the chart patterns in Forex and Stock market. The book: Science Of Support, Resistance, Fibonacci Analysis, Harmonic Pattern, Elliott Wave and X3 Chart Pattern (In Forex and Stock Market Trading) is exactly the book dedicated for this topic. This book will provide the scientific rational for chart patterns, connection with economics, chart pattern detection examples, how to use them and how to improve them in Forex and Stock market.
The book can be found in all the major book distributors in the world. Please choose the best book distributor you like from the link below including amazon.com, Google Play Book, scribd.com, Apple Book and so on.
Learning the geometric shape of the price patterns might be not sufficient to apply them well in the financial market. If we understand why the price patterns exist in the financial market, we can use them more accurately. Hence, it is important to understand the underlying science behind the price patterns. In doing so, we need to understand the trend and cycle. Then we need to see the connection of fractal wave with trend and cycle. Finally, when we recognize the fractal wave as the superior analytical method to the existing methods, we will understand why price patterns were used in the financial market over 100 years. With understanding of the turning point in connection with economics, this can advance your knowledge and practice for your day trading and investing.
In addition, we provide the automated chart pattern scanner for the harmonic patterns, triangle and wedge patterns respectively. The automated chart pattern scanner helps you to detect some repeating chart patterns automatically. They are the convenient tool to use after you have understood how the chart patterns works for your trading.
Advanced Price Pattern Scanner is the non repainting pattern scanner designed for both MetaTrader 4 and MetaTrader 5. It can detects many important price patterns for your trading like rising wedge, falling wedge, head and shoulder patterns, Cup and Handle, etc. Here is an intro video for Advanced Price Pattern Scanner from YouTube. Please check it out.
X3 Chart Pattern Scanner is next generation tools to trade with X3 price patterns in Forex market. With non repainting and non lagging algorithm, this tool can detect with advanced Harmonic Pattern, Elliott Wave Pattern, X3 Pattern structure for your trading. As a bonus, it provides your Japanese candlestick patterns too. X3 Chart Pattern Scanner is type 4 harmonic pattern indicator, which means that you can fine tune your strategy using historical patterns while you are trading the same patterns on live trading.