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Random article: ISM Service Index
Service Index published by the Institute for Supply Management represents results of surveying service managers, which serves the basis for conclusion about development tendencies of this branch. The value below “45-50” reveals negative tendencies. However, often the value is more influenced by psychological factors than real state of business. This is explained by constant speed of changes in the process of service consumption, whereas surges in index value take place exactly because of psychological factors. Such sharp fluctuations are considered in analysis of index value.
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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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