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DOUBLE TOP :chart_with_downwards_trend:& DOUBLE BOTTOM :chart_with_upwards_trend:

1- Double top is when the price reaches resistance level for two times. Strong resistance indicates that price is hard to be penetrated so the price will keep moving down.

Uptrend :arrow_right: Downtrend

2- Double bottom is when the price reaches support level for two times. Strong support shows that the price cannot continue moving downwards so the price will start moving up.

Downtrend :arrow_right: Uptrend


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HEAD & SHOULDER :bar_chart:

There are two types of Head & Shoulder pattern :

1- Head & Shoulder

2- Inverted Head & Shoulder

Head & Shoulder functioned as a pattern for us to look for selling positions. We will sell when we see the first formation of Shoulder and Head. So the sell positions will be on the 2nd Shoulder

For next sharing i will teach you guys on the most awaited topics :-

Advance Trendline + SNR

  1. Introducing SNR

  2. Introducing Trendline

  3. How to find Precise SNR(support&resistance)

  4. How to draw Trendline correctly and precisely

Support & Resistance

SUPPORT is a place where we find opportunity to enter BUY positions because support is the place where there are strong demands to buy a currency. This will causes the price stops from going down.

RESISTANCE is a place where wfind oppurtunity to enter SELL positions because resistance is the place where there are strong supplies to sell a currency. This causes the price stops from going above.

:stop_sign:SNR concept is basic price action technical analysis
:stop_sign:Forex trader will look for buying positions at support or somewhere near there that has potential for the price to go up
:stop_sign:Forex trader will look for selling positions at resistance or somewhere near there that has potential for the price to go down

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Support and resistance also can change when there’s a breakout(bo) happened:-

Support breakout = support becomes resistance (SBR)

Resistance breakout = resistance becomes support (RBS)

SUPPORT BECOMES RESISTANCE (SBR)

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RESISTANCE BECOMES SUPPORT (RBS)

Generally speaking

  • we will look for buy position at support

  • we will look for sell position at resistance

TYPE OF ORDERS

There have 2 type of order in trading. Usually we use a instant order. We just use pending order while we dont have a time and cant monitor the chart.

:arrow_right: INSTANT ORDER
:arrow_right:PENDING ORDER

INSTANT ORDER

  • Direct Order

*when we entry the position will be at the current price.

PENDING ORDER

-BUY LIMIT

-SELL LIMIT

-SELL STOP

-BUY STOP

*we will enter at the price we specify

Example of Instant order

Example of pending order

HOW TO CLOSED ORDER

We have 2 type of close order which is manual close and automatic close.

:arrow_right: Manual close
:arrow_right: Automatic close