Real-time pattern trading is the easiest way to find entry and exit prices if you can scan hundreds of FOREXs within minutes. It is definitely impossible for humans. Artificial Intelligence (A.I.) not only discovers these patterns, but also checks if they worked out well in the past. Knowing the success rate in the past allows A.I. to establish the odds of success in the future.
The Rectangle Top pattern forms when the price of a security is stuck in a range bound motion. Two horizontal lines (top: 1, 3, 5) and (bottom: 2, 4) form the pattern as the security bounces up and down between support and resistance levels. Depending on who gives up first buyers or sellers the price can breakout in either direction.
This pattern is commonly associated with directionless markets. Usually the pattern performs better when there is a strong uptrend leading into the formation.
If the price breaks out from the top pattern boundary, day traders and swing traders should trade with an UP trend. Consider buying a security or a call option at the breakout price level. To identify an exit, compute the target price level by adding the pattern height (which is the distance between the horizontal line (from top to bottom) and add it from the breakout price.
To limit potential loss when price suddenly goes in the wrong direction, consider placing a stop order to sell at or below the breakout price.
Time frames No matter your trading strategy (day trading, swing, etc), we have patterns that will be ready to trade.
CNYGBP - China Yuan - United Kingdom Pound
|TARGET (EXIT) PRICE||0.111224 GBP|
|BREAKOUT (ENTRY) PRICE||0.111113 GBP|
|DISTANCE TO TARGET PRICE||0.02% (0.2 pips)|
|EMERGED ON||Aug 06, 02:16 PM (UTC)|
|WITH CONFIDENCE LEVEL||74%|
CNYUSD - China Yuan - United States Dollar
|TARGET (EXIT) PRICE||0.154800 USD|
|BREAKOUT (ENTRY) PRICE||0.154575 USD|
|DISTANCE TO TARGET PRICE||0.38% (5.8 pips)|
|CONFIRMED ON||Aug 06, 12:24 PM (UTC)|
|EMERGED ON||Aug 06, 12:20 PM (UTC)|
|WITH CONFIDENCE LEVEL||71%|
CNYEUR - China Yuan - Euro
|TARGET (EXIT) PRICE||0.131658 EUR|
|BREAKOUT (ENTRY) PRICE||0.130651 EUR|
|DISTANCE TO TARGET PRICE||Aug 06, 01:48 AM (UTC)|
|EMERGED ON||0.59% (7.7 pips)|
|WITH CONFIDENCE LEVEL||53%|
CNYJPY - China Yuan - Japan Yen
|TARGET (EXIT) PRICE||17.066367 JPY|
|BREAKOUT (ENTRY) PRICE||16.940019 JPY|
|DISTANCE TO TARGET PRICE||0.54% (9.1 pips)|
|CONFIRMED ON||Aug 05, 01:56 PM (UTC)|
|EMERGED ON||Aug 05, 01:00 PM (UTC)|
|WITH CONFIDENCE LEVEL||54%|
CNYEUR - China Yuan - Euro
|TARGET (EXIT) PRICE||0.131454 EUR|
|BREAKOUT (ENTRY) PRICE||0.130539 EUR|
|DISTANCE TO TARGET PRICE||0.43% (5.6 pips)|
|EMERGED ON||Aug 05, 12:30 PM (UTC)|
|WITH CONFIDENCE LEVEL||57%|