I've believe retail traders who want to succeed where 95 of retail traders are losing. And the location where a buildup occurs gives you a BIG clue to where the market is likely to breakout. And when it does, the breakout tends to be huge. Just look at the huge bullish green candle. In the chart below we can see that a very obvious and confluent pin bar setup formed in the usdjpy that kicked off a huge uptrend higher.
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3 Charting Patterns every trader should know. Entry shown in chart and the target will be the distance from the point of the rounding bottom to the neckline projected upwards. You noticed the market broke out of the highs and you think to yourself This breakout is real. The charts below shows how to use price dynamics to determine a markets trend. And this looks like a Descending Triangle on your chart: Can you see the lower highs approaching Support? Well, the most effective and efficient way to become a specialist in the field forex click of forex price action trading is to learn from a successful price action trader. Source - Bloomberg, found this article to be helpful? trading strategies: How to determine a markets trend. Instead download my report (its free) and get the latest news and tips on how to become a Profitable Price Action Trader. A build-up is a tight consolidation otherwise known as volatility contraction.