Hello Guys, can anyone share a profitable strategy on how to trade the high and low of the day or M and W patterns??
- Thread starter Karl-fx
- Start date
stop looking at it as M or W patters that kinda retarded, think about institutions and how they move money, look up contraction expansion trending phase
Kelly2
New Member
Yes
Yes I do, contact me for further info.
bodhivasanthan
New Member
Learn how to trade the M and W patterns in the financial markets
Want to identify potential price reversals in the financial markets? Learn how to trade the M and W patterns with these simple steps. Find out how to identify the pattern, measure the price objective, enter the trade, and manage your risk with stop-loss and take-profit orders. Remember that these patterns are not always reliable, so it's important to use other technical analysis tools and risk management strategies to increase your chances of success.
The M and W patterns are popular trading strategies used by traders to identify potential price reversals in the financial markets. The M pattern is a bearish pattern that indicates a potential trend reversal from an uptrend, while the W pattern is a bullish pattern that indicates a potential trend reversal from a downtrend.
Here are some steps to trade the M and W patterns:
Identify the trend: The first step is to identify the trend. For the M pattern, you want to look for an uptrend, while for the W pattern, you want to look for a downtrend.
Look for the pattern: Once you have identified the trend, look for the M or W pattern. The M pattern consists of two highs, with the second-high being lower than the first, and a low in between the two highs. The W pattern consists of two lows, with the second low being higher than the first, and a high in between the two lows.
Measure the price objective: Once you have identified the pattern, you can measure the price objective using the height of the pattern. For the M pattern, you can measure the distance between the high and the low, and subtract it from the low of the pattern to get the price objective. For the W pattern, you can measure the distance between the low and the high, and add it to the high of the pattern to get the price objective.
Enter the trade: Once you have identified the pattern and the price objective, you can enter the trade. For the M pattern, you can enter a short position once the price breaks below the low of the pattern. For the W pattern, you can enter a long position once the price breaks above the high of the pattern. Place your stop-loss and take-profit orders: To manage your risk, you should place a stop-loss order below the low of the M pattern for short positions, and above the high of the W pattern for long positions. You can place a take-profit order at the price objective calculated in step 3.
It's important to note that the M and W patterns are not always reliable, and they can sometimes fail. Therefore, it's important to use other technical analysis tools and risk management strategies to increase your chances of success.
Want to identify potential price reversals in the financial markets? Learn how to trade the M and W patterns with these simple steps. Find out how to identify the pattern, measure the price objective, enter the trade, and manage your risk with stop-loss and take-profit orders. Remember that these patterns are not always reliable, so it's important to use other technical analysis tools and risk management strategies to increase your chances of success.
The M and W patterns are popular trading strategies used by traders to identify potential price reversals in the financial markets. The M pattern is a bearish pattern that indicates a potential trend reversal from an uptrend, while the W pattern is a bullish pattern that indicates a potential trend reversal from a downtrend.
Here are some steps to trade the M and W patterns:
Identify the trend: The first step is to identify the trend. For the M pattern, you want to look for an uptrend, while for the W pattern, you want to look for a downtrend.
Look for the pattern: Once you have identified the trend, look for the M or W pattern. The M pattern consists of two highs, with the second-high being lower than the first, and a low in between the two highs. The W pattern consists of two lows, with the second low being higher than the first, and a high in between the two lows.
Measure the price objective: Once you have identified the pattern, you can measure the price objective using the height of the pattern. For the M pattern, you can measure the distance between the high and the low, and subtract it from the low of the pattern to get the price objective. For the W pattern, you can measure the distance between the low and the high, and add it to the high of the pattern to get the price objective.
Enter the trade: Once you have identified the pattern and the price objective, you can enter the trade. For the M pattern, you can enter a short position once the price breaks below the low of the pattern. For the W pattern, you can enter a long position once the price breaks above the high of the pattern. Place your stop-loss and take-profit orders: To manage your risk, you should place a stop-loss order below the low of the M pattern for short positions, and above the high of the W pattern for long positions. You can place a take-profit order at the price objective calculated in step 3.
It's important to note that the M and W patterns are not always reliable, and they can sometimes fail. Therefore, it's important to use other technical analysis tools and risk management strategies to increase your chances of success.
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