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Random article: Directional Movement Index
Directional Movement Index — DMI is applied to find out if there is trend on market and what is its strength. Author of the indicator is J. Welles Wilder young. Also indicator generates signals for opening of positions with the help of two lines: DMI plus (DMI+), a positively directed indicator, and DMI minus (DMI-) - a negatively directed indicator. A signal for purchase is crossing of DMI+ by DMI- from bottom to top, whereas signal for sale is crossing of DMI- by DMI+ from top to bottom. The line which is finally above will perform as dominating and shows direction of market. The bigger split between lines is, the stronger trend is.
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Popular article: Forex Reversal patterns: Head and Shoulders etc.
A number of reversal patterns is indicated in Forex: Head and Shoulders, Double top, Double bottom, Triple top, Triple bottom, Diamond. Head and Shoulders Top – is a classical reversal pattern of technical analysis, which is formed following to a long upward trend. The model is considered to be fair reliable and is often formed. But despite above-mentioned, many beginning traders do not manage to take profit using this graphic pattern. The reason is that positions are opened prior to forming this model. Let's figure out the structure of the figure and its formation on the chart of trading terminal. The model consists from three subsequent price extreme points, the middle one is higher than others (head), and the rest two are below the middle one and are roughly equal (shoulders). All three uphills are supported by the neck line.
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Features of the analysis of Japanese candlesticks
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