Predictable Chart Pattern During The Presidential Elections

chart-patternsThis week the Forex market had a very predictable chart pattern that played out during the presidential election results. This same pattern played out during the Brexit vote back in June. Is this a fluke? Not really. Predictable chart patterns like these happen all the time during significant news events, especially when there is a chance for an upset. The more significant the upset, the greater the possible move in the markets. I have screenshots saved, not only of the chart patterns but also of the betting odds and polls that tracked these events. I like to capture what my screen looked like and the emotions of people and traders that are affected by the outcome of the major news release.

Trading Chart Pattern More, Than The Eye, Can See

 

A lot of traders, including myself, always talk about what could have happened or what should have happened. They often speak of chart patterns that they saw in the market. These same traders fail to understand the emotion behind these chart patterns. Everything traders see on their price charts are the effects of other traders’ emotions. One of these emotions that some have a hard time dealing with is fear. Fear could be a fear of missing a trade or a fear of losing on one. Greed is another emotion that shows up quite a bit. Greed shows up when traders are attempting to make more money than the market typically hands out on typical moves. To become a better trader, one must master how to handle both of these emotions and learn how to spot them in the marketplace. Even if you do not plan on placing trades around news events, this technique can help you lock in profits and manage risk a little bit better.

Predictable Chart Patterns Video

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