Dr. Peter's Financial Systems Blog
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  • 87. a potential cure for Covid-19 virus
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  • 84. A sad prophecy for Malaysia
  • 83. You are a hero President Trump
  • 82. do not make paul into a god and misunderstanding the laws of Moses.
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  • 62. Predicting the NASDAQ trend from 2016 to 2020 and the S&P 500 from 2017 to 2022
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  • 60. my letters to the prime minister during the 1997 Asian Financial Crisis
  • 59. The way forward
  • 58. Wake up Israel it is time
  • 57. The Calling of the Lord
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  • 55. President Trump and the 7 muslim nations
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  • 48. Past predictions and the price of gold
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  • 43. False teachings in the church in Malaysia
  • 42. Banking problems in Malaysia with AmBank
  • 41. Banking problems in Malaysia
  • 40. Historical-performance-of-my-commodity-price-prediction-charts
  • 39. Major changes to the earths continents to occur if Israel is divided
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  • 37. China starts world war 3 with rampant piracy and bullying smaller nations
  • 36. Powerful nontoxic insecticide used in my kitchen for exterminating ants
  • 35. Soybean prices forecast chart 2013 2014 2015 2016
  • 34. Palm Oil price trend prediction 2012 2013 2014
  • 33. NYSE Composite Index prediction of 2015 Bull Run
  • 32. Brent-crude-price-forecast-2012-2013-2014
  • 31. Congratulations-President-Barack-Obama
  • 30. Indian stock exchange nifty index prediction chart
  • 29. Soybean prices commodity chart prediction for day traders and others
  • 28. Huduh is not for malaysia and the errors in huduh
  • 27. My rapeseed commodity chart prediction useful for day traders and others
  • 26. Problems problems and more problems
  • 25. stock chart signals and price action patterns - by Steve Sollheiser
  • 24. Malaysian property prices and the property market
  • 23. Malaysian population growth and Malaysian property prices
  • 22. False teachings of the muslim terrorist
  • 21. The alternative technical analysis for commodity and stock market analysis
  • 20. Malaysian property price, bubble and crash in 2012
  • 19. The basics of stock market, forex, commodity and financial economy models
  • 18. Gold price and business opportunities
  • 17. US Economic recovery and growth part 4
  • 16. US Economic recovery and growth part 3
  • 15. Gold price forecast trend chart 2011 2012 2013 2014 2015 2016
  • 14. US Economic Recovery and Growth Part 2
  • 13. US Economic Recovery 2009 2010 2011
  • 12. How to predict gold price trend 2011 2015
  • 11. Malaysian property prices and the property bubble
  • 10. Distribution of Wealth Model and Supply and Demand
  • 9. Gold price forecast 2011 2015
  • 8. Explanation of inflation and model of inflation hyperinflation
  • 7. Approximate silver price trend prediction chart june sept 2011
  • 6. how to predict stock and commodity trends
  • 5. Causes of economic crisis recession and high inflation or hyperinflation
  • 4. What is inflation and how to manage inflation
  • 3. Making sound investment decisions
  • 2. forecasting commodity and stock market trends
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    « Malaysian property prices and the property market
    Open the Book of Knowledge and become one with the Wisdom of the Ancients.
    - Dr. Peter Achutha, September 2012
    Problems problems and more problems »


    Price action patterns and stock chart signals

    Trading price action can generates very good profits for the astute trader, and can yield good profits on many Forex pairs, stocks and commodities. In this article we will describe several of the most accurate price action patterns for most profits.  



    Price Action Patterns

    There are several types of price action patterns and they are as follows.



    Price Action Pattern #1: Support and Resistance Pullback

    The pullback is one of the best price action patterns for stock charts signals, as it usually has win rate of 80%+ on many commodities and stocks. The idea behind the pullback is that price breaks a certain supportresistance level and re-tests the level after the breakout. This allows traders to join trend at a very tactical point, with small stop loss and very high reward.


    price action pattern and stock chart signals
    price action pattern and stock chart signals
    price action pattern and stock chart signals
    price action pattern and stock chart signals

    The pullback occurs for many stock patterns, such as the Double Top, Channel, Triangle, Head & Shoulders and many more.  



    Price Action Pattern #2: Moving Average Bounce

    The moving average bounce occurs when price bounces off a moving average in the middle of a trend - it is a retracement that usually results in a continuation of the trend and a good place to join it. Make sure that the trend is strong by looking at the angle of the moving average and confirming that it is sloped and not flat (which is a symbol of weak trend).  



    Price Action Pattern #3: Channel Pattern

    The channel is a classical chart price action pattern that appeared on various stocks and commodities for dozens of years and generate big profits from traders.


    price action pattern and stock chart signals
    price action pattern and stock chart signals
    price action pattern and stock chart signals
    price action pattern and stock chart signals

    Channel consists of 2 parallel trend lines that go in the same direction. We enter long trades in an ascending channel and enter short trades in an descending channel, to make sure we do not trade against the trend.

    We will also enter pullback trades when the channel is broken to the opposite direction, and can help us profit from the new trend (reversal) at an early point.  



    Price Action Pattern #4: Double Top

    The Double Top is a highly reliable chart price action pattern that reaches 76% win rate in some stocks, and is considered a very good bearish pattern.

    Double Top occurs when price stops on the same resistance level twice, creating a price action that shapes the letter M. Trade is confirmed when price breaks the neckline downwards and begins to move downwards, and we will join that trend at the breakout of the neckline or at a pullback to the neckline.

    The target for such trades is calculated by subtracting the size of the pattern from the neckline. More aggressive traders can enter right at the 2nd time that price touches the Resistance level, to predict the bearish movement right from the start, however such trade is not recommended for beginner traders.  



    Price Action Pattern #5: Range Breakout

    Range occurs when price action is bound between two horizontal support and resistance levels, and bouncing from one level to the other with no order or trend. We take advantage of that by entering long trades on the support level, and entering short trades when price hits the resistance level, to profit from the inner movements.

    This range comes to an end when price breaks the range to either direction, and a new trend starts. We enter the trade at the breakout itself (for aggressive traders), or at the pullback (for conservative traders). This is one of the easiest patterns to trade as it is very easy to identify, however it is not as frequent as the rest of the patterns described, so we have saved it for last.

    All of those patterns are accurate, have high win rate, and can be traded on any Forex pair, stock or commodity. You don't need to be a trading professional to profit from these patterns - just follow the general directions and charts and you will see that profiting from trading is not so hard. Make sure to follow the systems described here and not deviate: do not do discretionary trading as it is not effective and in most cases you lack the judgement to successfully take those trades.

    Choose a system, follow it and master it - this is the real way for trading success for the long-term. Disregard most indicators and focus on price action, that governs price in any chart, time frame or stock.  

    This article on stock chart signals and price action patterns was researched and written by Steve Sollheiser. Copyright (c) 2012, Steve Sollheiser, Croatia. Mr. Steve Sollheiser is a guest author and is contributing to topics on price action and stock chart signals

    Please do show me your appreciation of this article by Buying me a coffee.

    And do get the "I Won" t-shirt



     


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