PURE PRICE ACTION MADE SIMPLE

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TABLE OF CONTENTS

Introduction
• About myself
• How I got into trading

Price action
• Types of traders
• Market phases

Indicators
• Moving averages

Technical analysis
• Dow theory
• Elliot wave theory

Imbalance
• Market efficiency
• Market inefficiency

Support and resistance

• Understanding support and
resistance zones

Fibonacci
• Fibonacci retracement
• Fibonacci fan

Chart patterns
• Reversal chart patterns
• Continuous chart patterns

Trading journal
• Improve your trading performance

Trading proposal plan

• Achieving your trading goal
($200 challenge)

Trading psychology
• How to control your trading emotions

Acknowledgement
• Acknowledgements of assistance
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introduction

I am greatly honoured to start this book with a short introduction about myself, who exactly answers to the name
Jackie and how I got to get into forex trading. To break the ice Mufaro Nharu is my real name, I am currently 24 years
of age. I was born and grew up in Kwekwe, a small town in Zimbabwe. I am known as Jackie; I want to share my
knowledge and experience with you so that you can become a better price action trader too. I started forex trading in

2020 during the national pandemic lockdown caused by covid-19, I was only 20 years. I was introduced to forex trading
with a friend of mine, Steven also known as Dream Big who I used to learn with back in high school. We used to stay
in the same street in Mbizo 16 in Kwekwe but then he travelled to South Africa for some time that’s where he was
staying. Since it was lockdown, we had nothing to do we were prohibited from gatherings and it wasn’t a good time
to go out due to the fear of getting the covid virus. He called me via WhatsApp call and started telling me about forex
trading but he wasn’t really sure about it if it was legit because we were recently scammed by this other lady who used
to advertise EcoCash Investments whereby we sent her Rtgs 5 000 (Zimbabwean currency). She told us that she was
going to give us Rtgs 20 000 back after 3 days, this was the investment plan but we got nothing after 3 days. By that
time, it

had value in USD, so we were now scared to get scammed again by forex trading because I didn’t really understand
how I will get money if I deposit, how to trade, how to analyse. So, we talked he told me to download Meta Trader 5
app (MT5) and he opened an account for me under Deriv broker then he linked the Deriv account with Meta Trader 5
app then I sent him $10 via Mukuru, he deposited the $10 into my account. My told me not to trade Volatility 75
because that was the most volatile index that time, I didn’t listen I always wanted to do things that other people were
scared of more like taking risk. My first trade was a mess I remember just doubling the account then I blew the account
within 30 mins. This motivated me in a way I didn’t think…. I was like if I can lose money in 30 mins what if I deposit
again and the trade goes in my favour, I would make money. I only traded synthetic indices and only Volatility 75 that
became my favourite index. I deposited again then I blew again, I didn’t have a mentor, I didn’t have money to join
mentorship classes done by forex trading mentors. I opened three WhatsApp groups and started to offer free
mentorship, I would go on google search about forex trading and if people ask me questions,
I would ask google and comeback to them with feedback not knowing by doing this process
over and over again I would be acquiring some basic knowledge to the extent of answering
some questions that were being asked by group members without referring to google. To me
having $20 in my pocket I would be really happy because I was just a student without any
income stream so some people would come to my inbox and would ask me if I could sell their
robots and indicators on behalf of them since I had many groups and I would accept the deal
because I also needed some cash to start trading my own account. I made some cash through
some sales and to my surprise some people would even comeback testifying that the robot
made me get some money but using a robot wasn’t one of my priorities. I made a deposit of
$70 into my trading account then I opened full margin on Volatility 75 and some of my
positions were closed and some were left I just switched my data off and told myself that if I
cant be able to make money on this trade I would go back to sell robots again until I slept on
my mother’s couch I woke up around 7am but I had forgotten that I had open trades then
quickly turned on my data and rushed to my Meta Trader 5 app to see if I had blown or made
money then I was shocked to see the trade still going in my favour the account was in deeper
profits, and believe it or not from $56.31 that was left in the account to $3116.20. I called
my friend to come and see what I managed to do on my account of which I had recently
introduced this friend to trading and he was in shock as well, I then closed all positions and
quickly rushed to withdraw USD $3000 from the account and after a number of successful
withdrawals, I asked myself how I managed to make such money that’s when I started to go
deeper with using Pure Price Action as my strategy in forex trading. I have never sold any
indicator or robot again. My trading journey Is still a work in-progress as we all know that
Rome wasn’t built in one day, I’m still learning on how I can become a very successful trader because sometimes I win sometimes,
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Price action

The study of price and its behaviour.

It tells you what the market is doing not what you think the market should do.

❖ Market trend
❖ Market structure
❖ Current and recent prices

We have stock market players

❖ Retail traders
❖ Institutions

Institutions move the market prices.

Retail traders have no ability to move the market.

Types of Traders

Trade type Lower time frame Higher time frame

Intraday M1, M5, M15 H1, H4

Swing D1 W1

Investor W1 M1 (Monthly)
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Market phases

Downtrend

It is created over a period of time when there is a decrease of price when bearish traders(sellers) take control of the
market.

Volatility 100 Downtrend

Volatility 100 decrease in price meaning sellers are in control.

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Uptrend

It is created over a period of time when there is an increase of price when bullish traders(buyers) take control of the
market.

Boom 300 Uptrend

Boom 300 increase in price meaning buyers are in control.

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Ranging / Sideways / Consolidation

Ranging market is whereby the market ranges or creates a range by making price movements in the same range.
*Also known as consolidation.

Crash 300 Ranging / Sideways / Consolidation

Consolidation
Consolidation has 2 types of phases namely Distribution phase and Accumulation phase.

Accumulation phase we will be expecting a buy whereas distribution phase we will be expecting a sell.
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Distribution phase (Sell)

But it doesn’t mean that every breakout is retested.

Volatility 25 Distribution phase (Sell)

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Accumulation phase (Buy)

Crash 300 Accumulation phase (Buy)

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Indicators

Price charts Indicators

Basically, price action tells you what the market is doing whereas indicators tell you what the market should do.
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Indicators tell you to

buy or sell when
moving averages
cross but what you
don’t know is price is
responsible for the
movement of these
lines hence it’s
better to be more of
a price action trader
that wait for signals
from these
indicators. They are
biased

Company analysis

Industry analysis
Fundamental Analysis
Future profit outlook

Macro-economic conditions

Quantitative Analysis
Use of statistical tools to analyse the market.
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Technical analysis

The study of historical price action in order to identify patterns and determine the probabilities of future price
movement on the market.

We have two types of theories namely;

❖ Dow theory
❖ Elliot wave theory

Dow Theory
This is a form of technical analysis whereby we get a signal from the trend that the market is changing direction.

It can be found in both uptrend and downtrend.

Price moves creating highs and lows, higher highs and higher lows, lower highs and lower lows.

On an uptrend price will fail to break the previous higher high thereby creating a higher low that is below the
previous higher low.

On a downtrend price will fail to break the previous lower low thereby creating a lower high that is above the
previous lower high.

Dow Theory on an uptrend explained

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Dow Theory on Boom 500 index uptrend

Dow Theory on a downtrend explained

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Dow Theory on Boom 1000 index downtrend

Dow theory on Volatility 50 index downtrend

LH

LL
LH

LL Failed to create a new

LL lower low
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Elliot wave theory

The first 5 waves form the impulsive move, moving in the direction of the main trend. The subsequent 3 waves
provide the corrective waves. In total we will notice that we have one 5 wave impulsive move, followed by a 3-wave
corrective move (a 5-3move).

We label the waves within the impulsive wave as 1-5, while the 3 corrective waves are titled A, B and C.

Elliot wave theory can be found in both uptrend and downtrend.

It gives us a signal that the trend is changing direction.

Elliot Wave Theory On an uptrend explained

Once the 5-3 move is complete, we have completed a single cycle.

However, those 2 moves 5 and 3 can then be taken to form the part of a wider 5-3 wave.
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We only enter a trade on the lettered corrective move on B that’s where we look for our entries.

Also, we don’t only trade Elliot wave theory alone we use it as a type of confirmation to our setup.

Volatility 25 index Elliot Wave Theory on uptrend

For example, if we look closer to the image below, we will see that first we had an uptrend where by the market was
creating a series of higher highs and higher lows thereby giving us a chart pattern called a head and shoulders, that’s
our main setup then we use Elliot wave as our confirmation as well as Dow theory got confirmed again

Volatility 25 index Elliot wave + Head and shoulders + Dow theory

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Elliot Wave Theory On a downtrend explained

Volatility 50 Elliot wave + Double bottom + Dow theory

1
4 C
A

3 B
5
Bottom 1
Bottom 2
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imbalance

Market efficiency
Efficient Price Action / Market Efficiency is when we notice that candlestick wicks meet.

Market inefficiency
Market inefficiency / Imbalance / Fair value gap (Fvg) is when we notice that candlestick wicks do not meet.

It is formed due to a high buying or selling pressure hence creating an imbalance / fvg.

Market Inefficiency/Fvg/Imbalance
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How to trade Market Inefficiency/Fvg/Imbalance

Price comes back to fill in any inefficiency or imbalance or fvg.

Market Inefficiency/Fvg/Imbalance not filled

But it doesn’t mean that every imbalance/fvg is filled.

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Volatility 25 index Market Inefficiency/Fvg/Imbalance

Price came back to fill in inefficiency or imbalance or fvg.

Volatility 50 (1s) index Market Inefficiency/Fvg/Imbalance

Price came back to fill in inefficiency or imbalance or fvg.

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Setup + confirmation = good entry

First of all, take you time to analyse the market.

If you get a setup look for potential confirmations to your setup.

Look for an entry.

Do not trade imbalance/fvg alone, use them as a confirmation to support your setup.

Volatility 50 (1s) index

Setup – head and shoulder pattern Confirmation – fvg /imb on the right
shoulder

Volatility 50 inverse head and shoulder + fvg on the right shoulder

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Support and resistance

Support price/zone is a price level which one expect a number of more buyers than sellers.

Resistance price/zone is a price level which one expect a number of more sellers than buyers.

Price doesn’t always respect a single level hence put a zone using a rectangle shape to mark your zone.

Support and resistance can also be used as a confirmation to your setups as well.

More confirmations = lesser number of trades = better quality trades (profits).

When market breaks the resistance level the resistance turns into support.

When market breaks the support level the support turns into resistance.

How do you trade support and resistance

resistance resistance

support
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FIBONACCI

Fibonacci sequence is used as a tool to predict future price movements.

The Fibonacci levels are based on the Fibonacci and are used to identify support and resistance levels.

Traders use these levels to determine when to enter or exit a trade.

There are many Fibonacci tools but I’m going to mention the only Fibonacci tool I use.

Types of Fibonacci tools

• Fibonacci retracement

Fibonacci retracement
Fibonacci retracement levels are used to identify potential support and resistance levels in the price of any index.

Fibonacci retracement levels are -; 0%, 23.6%, 38.2%, 50%, 61.8% and 100%

You can also use an extension of these levels by adding more levels, like level 90%.

Fibonacci retracement on a downtrend

In a downtrend, a Fibonacci retracement level indicates where price is likely to find support and possibly retrace to a
level and then reverse back to the downside.

Resistance

61.8% Fibonacci
retracement

Support

When we want to look for sell opportunities or entries Fibonacci retracement should be placed starting with level
100% at the top and level 0% at the bottom as shown in the diagram above as well as the chart below.
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Boom 500 Fibonacci retracement

Resistance
61.8% Fibonacci
retracement

Support

Boom 500 Fibonacci retracement with a setup

As you can see on the setup below, we have a bearish wedge flag that’s in-between the two trendlines.

We have 1 setup and that’s when we take our entries on level 61.8%.

Our entry will be based on the setup and the confirmation supports our setup.

Resistance
61.8% Fibonacci
retracement

Support
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Fibonacci retracement on an uptrend

In an uptrend, a Fibonacci retracement level indicates where the price is likely to find resistance, possibly retrace to
a level and reverse back to the upside.

Resistance

61.8% Fibonacci
retracement

Support

When we want to look for buy opportunities or entries Fibonacci retracement should be placed starting with level
0% at the top and level 100% at the bottom as shown in the diagram above as well as the chart below.

Crash 300 Fibonacci retracement

Resistance

61.8% Fibonacci
retracement

Support

When trading, avoid trading using Fibonacci retracement alone, because these levels are used in conjunction with
other confirmations to confirm a trade setup.
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Crash 300 Fibonacci retracement with a setup

As you can see on the setup below, we have a bullish wedge flag that’s in-between the two trendlines.

We also have a double bottom that was formed on level 61.8%.

Then we have 2 setups and that’s when we take our entries on level 61.8%.

Our entry will be based on the setups and the confirmation supports our setup.

Resistance

61.8% Fibonacci
retracement

Support

Crash 1000 index inverted cup and handle + Fibonacci retracement

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Chart patterns

Chart patterns are geometric shapes found in the price data that can help price action trader to understand price
action as well as making predictions about where the market will go.

Chart patterns are classified into two categories namely;

❖ Reversal chart patterns
❖ Continuous chart patterns

Types of chart patterns

Reversal Chart Patterns Continuous Chart Patterns

Double top Symmetrical triangle

Double bottom Ascending triangle

Triple top Descending triangle

Tripple bottom Rectangles

Head and shoulders Flags

Inverse head and shoulders Rising wedge

V-top Falling wedge

V-bottom Cup and handle

Cup and handle Unmatched head and shoulders

Inverted cup and handle Unmatched inverse head and shoulders

Rising wedge
Falling wedge

Reversal Chart Patterns

These are chart patterns that give us a signal that the trend is now changing direction or wants to change direction.

Hence if Boom500 is on a downtrend(selling) and you see a reversal chart pattern it simply means that Boom500 is
now changing direction thus you need to look for buy setup and find good entries or exit your trade if you were in
that Boom500 sell.
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Double top

Same tops

Top 1 Top 2
Top 1 Top 2
Break out

neckline
Break out neckline
Retest

Different tops

Top 1 Top 2
Top 1
Top 2 Break out

neckline neckline Retest

Break out
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How to trade Double tops

Basically, when trading double tops, we look at different aspects. Usually when price breaks the neckline zone (minor
resistance zone) it comes back for a retest that’s on level 50% to 61.8% of the Fibonacci retracement. But it’s not
every time when it comes back to retest the breakout zone.

To calculate take profit (Tp) we put a horizontal line on the tops or top, we put another horizontal line on the
neckline then we use a trendline to mark the distance between the top and the neckline. After that we take that
distance, we mark up from the neckline that’s where our take profit will be as illustrated below.

Our tops
entry Stop loss
Mark our top and 100%
neckline to get the
distance in-between entry Stop loss
neckline
The same distance 61.8%
marks up our take
profit

Take profit
Take profit
0

Always make it a point that whenever you see a double top on a higher time frame you need to go on lower time
frames to look for entries, thereby minimizing losses.

Stop loss should be ¼ of the distance of your profit. Your entry should be on level 100% of Fibonacci retracement but
if you miss the entry you wait for 61.8%.
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Different tops
Where there are different tops, we get 2 take profits, we use the same way we calculate take profit as well as stop
loss.

Stop loss

neckline

Take profit 1
Take profit 2

Boom 500 index double top

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Double bottom

Same bottoms

Break out

neckline neckline
Break out
retes
t
Bottom 1 Bottom 2 Bottom 1 Bottom 2

Different bottoms

Break out
Break out
neckline neckline

retes
t

Bottom 1 Bottom 1
Bottom 2 Bottom 2
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Volatility 50 index double bottom

To identify a double bottom, you need to see two low points on a chart that are close together and of price level or
different levels. It gives us a signal that the market is buying.

They are similar to double tops, the way we calculate our take profit, stop loss and entries its just the same but they
are opposite.

Double bottoms are only found where the market will be on a downtrend.

Volatility 50 index double bottom

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Triple top

Same neckline and same tops

Occurs when we only have three tops or equal highs
Top Top 2 with the same neckline.
Top
1 3

Neckline

Different neckline and same tops

Occurs when we only have three tops or equal highs
Top Top 2 Top 3 with a different neckline.
1

Same neckline and different tops

Top Occurs when we only have three different tops with the
Top same neckline.
1 Top
2
3

Neckline

Different neckline and different tops

Top Occurs when we only have three different tops with the
Top
1 Top different neckline.
2
3
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Volatility 25 index triple top

Just a technical analysis pattern that forms when price reaches three consecutive peaks at the same level or slightly
different levels. This pattern generally is only found on an uptrend. It gives us a signal that the trend is reversing so
traders need to look for sell entries.
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Triple bottom

Same neckline and same bottoms

Occurs when we only have three bottoms or equal lows
with the same neckline.
Neckline

Bottom 1 Bottom 1 Bottom 1

Different neckline and same bottoms

Occurs when we only have three bottoms or equal lows
with the different neckline.

Bottom 1 Bottom 2 Bottom 3

Same neckline and different bottoms

Occurs when we only have three different bottoms or
equal lows with the same neckline.
Neckline

Bottom 3
Bottom 2
Bottom 1

Different neckline and different bottoms

Occurs when we only have three different bottoms
with a different neckline.

Bottom 1
Bottom 2
Bottom 3
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Volatility 50(1)s index triple bottom

A triple bottom pattern is whereby when price of an index a low point three times. This pattern signals that an index
is in a process of buying.

Volatility 10(1s) triple bottom

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Head and shoulders

Same neckline and same shoulders

A head and shoulders pattern is a chart whereby we
head have three peaks the middle one being higher than the
other two peaks.
shoulder shoulder As illustrated on the diagram we have the head higher
than the other highs with shoulders of equal highs and
neckline of equal lows.
Neckline

Different neckline and same shoulders

It doesn’t mean the neckline always has to have equal
head lows sometimes we can get this type of head and
shoulders where we have a difference on the neckline
shoulder shoulder
meaning instead of using our trendline to mark our
neckline we can use a rectangle shape to mark our
neckline zone.

Same neckline and different shoulders

We can also have a head and shoulders with same
head neckline and different shoulders. Thus, the way we
calculate our stop losses and take profit differ as there
shoulder is a difference on the shoulders.
shoulder

Neckline

Different neckline and different shoulders

head Then we can have a head and shoulders with everything
different. We can look forward to the next chapter on
how to trade these patterns on advanced level.
shoulder
shoulder
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Crash 1000 index head and shoulders

A head and shoulders pattern is a chart pattern that gives us a signal that the trend is changing direction. It is formed
by a price movement whereby we have a peak that is higher than other peaks as our head and 2 peaks that are
lower than the head being our shoulders.

It is only found on an uptrend.

Volatility 50(1s) index

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inverse head and shoulders

Same neckline and same shoulders

An inverse head and shoulders pattern is a chart
whereby we have three lows the middle one being
neckline lower than the other two lows.
As illustrated on the diagram we have the head lower
than the other lows with shoulders of equal highs and
shoulder neckline of equal lows.
shoulder

head

Different neckline and same shoulders

It doesn’t mean the neckline always has to have equal
highs sometimes we can get this type of inverse head
and shoulders where we have a difference on the
neckline meaning instead of using our trendline to
mark our neckline we can use a rectangle shape to
shoulder shoulder mark our neckline zone.

head

Same neckline and different shoulders

We can also have ana inverse head and shoulders with
same neckline and different shoulders. Thus, the way
neckline we calculate our stop losses and take profit differ as
there is a difference on the shoulders.
shoulder
shoulder

head

Different neckline and different shoulders

Then we can have an inverse head and shoulders with
everything different. We can look forward to the next
chapter on how to trade these patterns on advanced
level.

shoulder
shoulder
head
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Jump 100 index inverse head and shoulder

Jump 100 index inverse head and shoulders

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Volatility 25 index inverse head and shoulders

Volatility 25 index inverse head and shoulders + Fibonacci retracement

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v-top

V-top

Neckline Pullback

Jump 50 index V-top

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Jump 50 V-top + Fibonacci retracement

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v-bottom

Neckline
Pullback

V-bottom

Jump 10 index V-bottom

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Jump 10 index V-bottom + Fibonacci retracement

,
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Cup and handle

Volatility 75(1s) index cup and handle

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Crash 1000 index cup and handle

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Crash 1000 cup and handle + Fibonacci retracement

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Inverted Cup and handle

Crash 1000 index inverted cup and handle

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Crash 1000 index inverted cup and handle + Fibonacci retracement

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Rising wedge
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Falling wedge
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Continuous chart patterns

These are chart patterns that give us a signal that the trend is in a continuous direction or wants to continue with the
trend direction.

Hence if Crash500 is on an uptrend and you see a continuous chart pattern it simply means that Crash500 is in a
continuous direction thus you need to look for buy entries or hold your trade if you were already, it that Crash500
buy.
B
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Symmetrical triangle

Downtrend

Uptrend
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Ascending triangle

Crash 1000 index ascending triangle

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Rising
Falling
Descendingwedge
wedge
triangle
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flags

Bullish flag Bearish flag

Bullish wedge flag Bearish wedge flag

Bullish pennant Bearish pennant

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Bullish wedge flag

Volatility 25(1s) index bullish wedge flag

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Bullish pennant

Crash 1000 index bullish pennant

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Bullish flag

Crash 300 bullish flag

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Bearish flag

Volatility 75(1s) index bearish flag

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rectangles

Downtrend

Volatility 250(1s) index rectangle

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Uptrend

Volatility 10 index rectangle

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\\
Cup and handle

Downtrend

handle
cup

Volatility 100(1s) index cup and handle

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Cup and handle on an uptrend

handle
pullback
cup

Crash 1000 index cup and handle

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Inverted Cup and handle

Inverted Cup and handle on an uptrend

pullback

cup

handle

It is a bearish chart pattern that indicates a possible reversal in the market. The cup is formed when price rises and
then falls back down to a support level, while the handle is formed when the price rises again buy doesn’t reach the
high point of the cup. So, the whole pattern looks like an upside-down cup with a little handle on the right side.
When trading cup and handle pattern look for imbalances, Fibonacci retracement 50% to 68.1% as your entry
confirmations.

Volatility 50(1s) index inverted cup and handle

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Unmatched head and shoulders

Same neckline and same shoulders

An unmatched head and shoulders pattern is a chart
head whereby we have three highs the middle one being
higher than the other two highs.
shoulder shoulder As illustrated on the diagram we have the head higher
than the other highs, with shoulders of equal highs and
neckline of equal lows.
neckline Then market fails to breakout on the neckline and
reverses.

Different neckline and same shoulders

It doesn’t mean the neckline always has to have equal
head highs sometimes we can get this type of unmatched
head and shoulders where we have a difference on the
shoulder shoulder
neckline meaning, to mark our neckline we can use a
rectangle shape to mark our neckline zone. Or use our
diagonal trendline to mark up our neckline.

Same neckline and different shoulders

We can also have an unmatched head and shoulders
head with same neckline and different shoulders.

shoulder
shoulder

neckline

Different neckline and different shoulders

head
Then we can have an unmatched head and shoulders
with everything different.
shoulder
shoulder
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Volatility 75(1s) index unmatched head and shoulders

An unmatched head and shoulders pattern is formed when the market forms the first shoulder, a head and then on
the second shoulder the market rises above the head before breaking the neckline.

Thereby invalidating a head and shoulder pattern.

It is only found on an uptrend as a signal that the market is still on a continuation with the uptrend

Volatility 25(1s) index unmatched head and shoulders

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Unmatched inverse head and shoulders

Same neckline and same shoulders

An unmatched inverse head and shoulders pattern is a

neckline chart whereby we have three lows the middle one
being lower than the other two lows.
As illustrated on the diagram we have the head lower
shoulder than the other lows with shoulders of equal highs and
shoulder
neckline of equal lows.
head Then the market falls down lower than the head.

Different neckline and same shoulders

We can get this type of an unmatched inverse head and

shoulders where we have a difference on the neckline
meaning, we can use trendline to mark our neckline.
We can also use a rectangle shape to mark our neckline
shoulder shoulder zone.

head

Same neckline and different shoulders

We also have an unmatched inverse head and

neckline shoulders with same neckline and different shoulders.

shoulder
shoulder

head

Different neckline and different shoulders

We can have an unmatched inverse head and

shoulders with everything different.

shoulder
shoulder
head
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Volatility 75(1s) index unmatched inverse head and shoulders

An unmatched inverse head and shoulders pattern is formed when the market forms the first shoulder, a head and
then on the second shoulder the market falls below the head before breaking the neckline.

Thereby invalidating an inverse head and shoulder pattern.

It is only found on a downtrend as a signal that the market is still on a continuation with the downtrend.

Crash 300 index unmatched inverse head and shoulders

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Trading JOURNAL

ACCOUNT
DATE TIME TRADE PATTERN S/L T/P R:R:R EXIT REASON % TRADE NOTES / ACCOUNT
CHANGE MISTAKES / LESSONS BALANCE
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Trading PROPOSAL PLAN

CAPITAL 200

*1 *2 *3 *4 *5 *6 *7 *8 *9 *10 *11 *12

DAILY JANUARY FEBRUARY MARCH APRIL MAY JUNE JULY AUGUST SEPTEMBER OCTOBER NOVEMBER DECEMBER
SAVINGS
1 $50.00 $100.00 $150.00 $200.00 $250.00 $300.00 $350.00 $400.00 $450.00 $500.00 $550.00 $600.00

2 $50.00 $100.00 $150.00 $200.00 $250.00 $300.00 $350.00 $400.00 $450.00 $500.00 $550.00 $600.00

3 $50.00 $100.00 $150.00 $200.00 $250.00 $300.00 $350.00 $400.00 $450.00 $500.00 $550.00 $600.00

4 $50.00 $100.00 $150.00 $200.00 $250.00 $300.00 $350.00 $400.00 $450.00 $500.00 $550.00 $600.00

5 $50.00 $100.00 $150.00 $200.00 $250.00 $300.00 $350.00 $400.00 $450.00 $500.00 $550.00 $600.00

6 $50.00 $100.00 $150.00 $200.00 $250.00 $300.00 $350.00 $400.00 $450.00 $500.00 $550.00 $600.00

7 $50.00 $100.00 $150.00 $200.00 $250.00 $300.00 $350.00 $400.00 $450.00 $500.00 $550.00 $600.00

8 $50.00 $100.00 $150.00 $200.00 $250.00 $300.00 $350.00 $400.00 $450.00 $500.00 $550.00 $600.00

9 $50.00 $100.00 $150.00 $200.00 $250.00 $300.00 $350.00 $400.00 $450.00 $500.00 $550.00 $600.00

10 $50.00 $100.00 $150.00 $200.00 $250.00 $300.00 $350.00 $400.00 $450.00 $500.00 $550.00 $600.00

11 $50.00 $100.00 $150.00 $200.00 $250.00 $300.00 $350.00 $400.00 $450.00 $500.00 $550.00 $600.00

12 $50.00 $100.00 $150.00 $200.00 $250.00 $300.00 $350.00 $400.00 $450.00 $500.00 $550.00 $600.00

13 $50.00 $100.00 $150.00 $200.00 $250.00 $300.00 $350.00 $400.00 $450.00 $500.00 $550.00 $600.00

14 $50.00 $100.00 $150.00 $200.00 $250.00 $300.00 $350.00 $400.00 $450.00 $500.00 $550.00 $600.00

15 $50.00 $100.00 $150.00 $200.00 $250.00 $300.00 $350.00 $400.00 $450.00 $500.00 $550.00 $600.00

16 $50.00 $100.00 $150.00 $200.00 $250.00 $300.00 $350.00 $400.00 $450.00 $500.00 $550.00 $600.00

17 $50.00 $100.00 $150.00 $200.00 $250.00 $300.00 $350.00 $400.00 $450.00 $500.00 $550.00 $600.00

18 $50.00 $100.00 $150.00 $200.00 $250.00 $300.00 $350.00 $400.00 $450.00 $500.00 $550.00 $600.00

19 $50.00 $100.00 $150.00 $200.00 $250.00 $300.00 $350.00 $400.00 $450.00 $500.00 $550.00 $600.00

20 $50.00 $100.00 $150.00 $200.00 $250.00 $300.00 $350.00 $400.00 $450.00 $500.00 $550.00 $600.00

21 $50.00 $100.00 $150.00 $200.00 $250.00 $300.00 $350.00 $400.00 $450.00 $500.00 $550.00 $600.00

22 $50.00 $100.00 $150.00 $200.00 $250.00 $300.00 $350.00 $400.00 $450.00 $500.00 $550.00 $600.00

23 $50.00 $100.00 $150.00 $200.00 $250.00 $300.00 $350.00 $400.00 $450.00 $500.00 $550.00 $600.00

24 $50.00 $100.00 $150.00 $200.00 $250.00 $300.00 $350.00 $400.00 $450.00 $500.00 $550.00 $600.00

25 $50.00 $100.00 $150.00 $200.00 $250.00 $300.00 $350.00 $400.00 $450.00 $500.00 $550.00 $600.00

26 $50.00 $100.00 $150.00 $200.00 $250.00 $300.00 $350.00 $400.00 $450.00 $500.00 $550.00 $600.00

27 $50.00 $100.00 $150.00 $200.00 $250.00 $300.00 $350.00 $400.00 $450.00 $500.00 $550.00 $600.00

28 $50.00 $100.00 $150.00 $200.00 $250.00 $300.00 $350.00 $400.00 $450.00 $500.00 $550.00 $600.00

29 $50.00 $150.00 $200.00 $250.00 $300.00 $350.00 $400.00 $450.00 $500.00 $550.00 $600.00

30 $50.00 $150.00 $200.00 $250.00 $300.00 $350.00 $400.00 $450.00 $500.00 $550.00 $600.00

31 $50.00 $150.00 $250.00 $350.00 $400.00 $500.00 $600.00

TOTAL $1,550 $2,800 $4,650 $6,000 $7,750 $8,900 $10,850 $12,400 $13,500. $15,500 $16,500 $18,600
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Trading psychology

Planning-has a lot of benefits in your trading journey. Can help you stay organized and focused; you will need to
plan your trading journey by setting up your goals so that you will be able to achieve your goals. For example, having
a proper trading plan prevents you from entering unnecessary multiple trades because you will be only taking a
certain number of trades per day, you will be trading according to your own set up Risk Reward Ratio allowing you to
place stop losses and take profits according to your own plan.

Mindset-having a positive and growth-oriented mindset can be really beneficial in all aspects of life as well as in
forex trading. With a positive mindset you are likely to be optimistic, resilient and persistent in any trading
challenges. You will be more likely to be to take risks, have confidence in your setups and learn from your own
mistakes. On the other hand, having a negative or poor mindset can hold you back and prevent you from reaching
your full potential.

Greed-often considered to be a negative emotion in forex trading. It can also cause people to make poor decision
based on short-term gains rather than long term success while trading. The best medicine for greed is finding the
right balance between ambition and greed. For example, one can decide to hold a trade that has reached his/her
take profit zone instead of closing they hold eventually they might end up losing all the profits or even the capital
and regret later.

Fomo-Fear of missing out it’s the feeling that you are going to miss out a trade if you don’t enter. It can be a result
of pressure from these so-called mentors that send signals in forex trading groups. For example, you can analyse the
market on Crash 300 index and you get your own setup then upon waiting for your entry on your setup then you see
them telling you to buy or sell Crash 300 index then you start feeling that if you don’t take the signal, you might miss
out. This is also caused by following some people’s setups who send screenshots of setups seemingly perfect.

Revenge-when losing a trade that you were confident that is going to make you get profit and start to seek revenge.
In trading losses are inevitable hence there is no such thing as sure thing, if I’m wrong everyone in forex trading
would be a millionaire.

Conclusion-Be a trader you want to be not what they want you to be, focus on your own growth as a trader.
Make use of proper planning, the key to overcome fear of missing out is to focus on what’s important to you and
make choices based on your own values and goals, rather than what others are doing. Stop buying forex trading
robots. However not all mentors are bad, some make profits from their setups and signals.

Acknowledgement
I would like to express my appreciation to Eagle fx, Vambambo fx, Socrates, The_real_shephered for their support
and guidance, for their encouragement and advice as well as teaching me knew forex trading concepts. I am
indebted to the Deriv Destroyers’ group for their invaluable feedback.
https://chat.whatsapp.com/JBofp3uTHAcGWQ9SAHVnBL