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School of Pipsology
BabyPips.com’s School of Pipsology is designed to help you acquire the skills, knowledge, and abilities to become a successful trader in the foreign exchange market. Our definition of a successful trader is having the ability to do three things... |
What is a Candlestick
Back in the day when Godzilla was still a cute little lizard, the Japanese created their own old school version of technical analysis to trade rice. A westerner by the name of Steve Nison “discovered” this secret technique on how to read charts from a fellow Japanese broker and Japanese candlesticks... |
Basic Candlestick Patterns
Candlesticks with a long upper shadow, long lower shadow and small real bodies are called spinning tops. The color of the real body is not very important... |
Reversal Patterns
For a pattern to qualify as a reversal pattern, there should be a prior trend to reverse. Bullish reversals require a preceding downtrend and bearish reversals require a prior uptrend. The direction of the trend can be determined using trendlines, moving averages, or other aspects of technical analysis... |
Triangles are powerful continuation patterns
Its upper trend line is horizontal whereas the lower one is upward sloping. This is a bullish formation as in this scenario buyers are more active than sellers. When an ascending triangle develops, it is usually a good chance for an upside breakout to occur. |
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