Forex Signal – Chart Patterns Cheat Sheet

Daily Telegram Forex and Crypto Signals – Like we promised, here’s a neat little cheat sheet to help you remember all those chart patterns and what they are signaling.

We’ve listed the basic classic chart patterns, when they are formed, what type of signal they give, and what the next likely price move may be.

That’s because these chart patterns can form either in an uptrend or downtrend, and can signal either a trend continuation or reversal.
Confusing I know, but that’s where practice and experience come in!

As we mentioned, it’s tough to tell where the price will break out or reverse.

So what’s important is that you prepare well and have your entry/exit orders ready so that you can be part of the action either way!

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You also might want to add this page to your bookmarks in case you need to double-check those chart patterns’ signals before you risk your hard-earned cash on a trade.

That’s because these chart patterns can form either in an uptrend or downtrend, and can signal either a trend continuation or reversal.

What are pivot points?

Professional traders and market makers use pivot points to identify potential support and resistance levels.

Simply put, a pivot point and its support/resistance levels are areas at which the direction of price movement can possibly change.

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With pivot points, forex traders typically use the same method for calculating them.

Many traders keep an eye on these levels and you should too.

Pivot points are especially useful to short-term traders who are looking to take advantage of small price movements.

Just like normal support and resistance levels, forex traders can choose to trade the bounce or the break of these levels.

Confusing I know, but that’s where practice and experience come in!

As we mentioned, it’s tough to tell where the price will break out or reverse.

Range-bound traders use pivot points to identify reversal points. They see pivot points as areas where they can place their buy or sell orders.
Breakout forex traders use pivot points to recognize key levels that need to be broken for a move to be classified as a real deal breakout.

Here is an example of EUR/USD pivot points plotted on a 1-hour chart:

So what’s important is that you prepare well and have your entry/exit orders ready so that you can be part of the action either way!

You never know when you’re gonna need to cheat, hah! Bookmark this thing yo!

And as you probably noticed, we didn’t include the triangle formations (symmetrical, ascending, and descending) in this cheat sheet.

As you can see here, horizontal support and resistance levels are placed on your chart.

And look…they’re marked out nicely for you! How convenient is that?!

Pivot Point Lingo
Here’s a quick rundown on what those acronyms mean:

3 Main Groups of Chart Patterns

S stands for Support.

R stands for Resistance.

Forex Signal – Chart Patterns Cheat Sheet

Understanding Pivot Points

Forex Signal – Chart Patterns Cheat Sheet

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• The fundamental forex strategies 
• The technical forex strategies 
• The popular forex strategies 
• In the forex strategies articles 

These are the three most traded currencies beside the US dollar. Lower market liquidity will mean that a broker will give wider dealing forex spreads.

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