free forex Posted January 31, 2019 Share Posted January 31, 2019 get forex trading signals by Horn Tops Horn Tops Appearance Two upward price spikes separated by a week on the weekly chart Weekly chart, upward spikes Use the weekly chart and locate two upward price spikes separated by a week. The two spikes should be longer than similar spikes over the prior year and tower above the high of the center week. It should look like a horn. Clear visibility The horn highs should be well above the surrounding highs and the best performing reversals appear at the end of a long uptrend. Confirmation The pattern becomes a valid horn top when price closes below the lowest low in the pattern. Do not trade forex signals without confirmation. Measure rule Subtract the lowest low from the highest high to get the pattern height. Subtract the height from the lowest low to get the forex signals target price. Threat assessment Look for an uptrend spanning many months. Such uptrends often show horns near the end of the trend. If the horn top appears near the end of a long downtrend, then it is best to avoid it. Watch out for horns appearing after a downward trend when the trend changes and price starts moving higher. Prices may decline but the decline is usually short-lived (as in the rise between a double bottom). Low volume The failure rate declines if below average volume appears on both spikes, in a bull market. Trend change A horn top usually signals an approaching trend change, usually in less than 2 months. Quote Link to comment Share on other sites More sharing options...
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.