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Random article: Williams' Percent Range
Williams' Percent Range is a technical indicator of oscillator type showing overbought/oversold status on market. The first time it was described in 1973 by a famous trader Larry Williams. The indicator itself is very close to Stochastic Oscillator, but unlike Stochastic, WPR is not smoothed over with the help of moving average and has a reverse sale in order to not deprive sense of overbought (at the top) and oversold (downwards) zones.
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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