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Trading Forex with Patterns

While many traders are attempting to learn Forex trading they are taught trading strategies that actually prevent them from seeing the most important signals the market can reveal. It seems to be very common that Forex traders have numerous indicators on one chart and are trading the extreme short time frame with the intention of getting in and out quickly. One of the most important breakthroughs that I experienced was when I was using many indicators overlayed both in the price channel and in several indicator channels below price. One day I realized that I could not see what price was doing accurately and I took everything off the screen except the candles. Suddenly I realized that I had been totally blinded to what should have been obvious.

In most cases indicators do not really provide any useful information for making a trading decision. They simply follow price. There are more important things that many traders cannot see because of the way their charts are set up. And one of the most important things is the pattern that price forms. There are certain principles of price movement that are always telling a meaningful story as to whether the market is trending or correcting. What are the characteristics of a trend? When is a trend over? What signals the end of a correction and the continuation of a trend? These gems of information can be extremely valuable if it is your intention to actually learn Forex trading and have consistent profit in your Forex trading business.

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